Starting a private money lending business can be rewarding, but it requires careful planning and a solid understanding of the real estate market.

As the title says, I am new to real estate.

Also, if you are an agent with experience in the Loreto real estate market, pls DM me.

It could be helpful to have a real estate attorney look over these agreements for added security. 

To get accurate information on renting by the room, check with a local investor-friendly real estate agent.

You are trying to enter ACTIVE real estate investing where YOU play a SIGNIFICANT role.

I house-hacked several properties when I got started in real estate investing.

It doesn't appear you are in position to purchase real estate at this time. 

However, you should ensure that the contract language allows for such changes without requiring a full contract re-signing.Consulting with an attorney familiar with Florida real estate and property management law is advisable to ensure compliance and avoid any potential legal issues when making these adjustments.Let me know if you need help with any other aspects of this process!

You can also tap into local real estate meetups or REI clubs to find contractors specializing in cosmetic rehabs, such as kitchen and bathroom updates.