My list includes - last 2 years employment history and current employment [2 paystubs], criminal checks, eviction checks, No Pets, No smoking, tenant pays utilities, maintains landscape, no subleasing, bring own washer & dryer, 1 month security deposit and transfer of utilities before moving in, rental insurance, all occupants will be on lease, notice period of 2 months for termination, tenant references, No cosigners, no painting walls, late fee notice, any hoa fines should be paid by tenant, inspection of property at 3, 9 and 12 months.Please let me know if I am missing anything.3.

This sets you up for succession planning as well, if you ever wanted to sell the gas station operations but maintain the real estate for the passive income that sets you up to do so easily.

My gut tells me that Texas, particularly Austin and Houston, could be where the next wave of growth and expansion occurs, mainly driven by strong business and job creation trends.Here’s what I’m looking for in my US investments:Free-standing houses with a good land component, at least 3 bedrooms and 2 bathrooms, and in well-maintained condition.Budget : Will have to keep a factor of safety for the current exchange rates of AUD.USD = 0.68 so will cap our budget at 250K- 300K.Yielding over 6%, with a slight cash flow positive outcome, while also offering medium-term capital appreciation potential.Holding for at least 5 years or more, with a view towards steady growth.The long-term goal is financial independence, reducing reliance on salary-based income, and building assets during this accumulation phase.Debt reduction is on the horizon—looking to consolidate and start winding down debt within the next 7 years.If anyone has experience investing in the Texas real estate market or any tips on navigating US property investments, feel free to share your thoughts!

This proactive approach has made a significant difference in maintaining positive cash flow and ensuring long-term success in my investments.Key Lesson #5: Build a Strong Network Finally, I wish I had focused on building a network of real estate professionals earlier in my journey.

At this point, we are three years in, and have learned that you sometimes have to have thick skin (grit) in dealing with tenants, managers, and RV site visitors; while maintaining a sense of humor and humility.

These costly improvements are pushing rents up.While effective rents (factoring in concessions) may be declining, asking rents remain high as landlords aim to maintain their property value.

Because banks know that investors/tenants don’t maintain properties as well, and fight needed reserves and assessments — don’t even think of arguing against the fact).

To thrive in real estate investing, you must maintain a firm grip on your finances.

You need to maintain a reserve to handle unexpected costs in the first year.How much should you maintain in the reserve? 

It was simple and cheap.However, it still takes time and money to set up and maintain the LLCs.