We also have 2 investment properties within about a 15 min drive of where we live.

Check local regulations.First, verify that your local zoning laws, HOA rules, or condo bylaws permit renting your property.2.

Negotiating the seller down on sale price from $200,000 - $185,000 to build some instant equity in the property.

Congrats Brendon, what was the draw for you with the property?

I know you are probably bummed about this and feel like you made a mistake, but if you can figure out how to hold this property and buy more properties and hold them then you will end up making significantly more money in the long run; you don't build a real estate portfolio by selling.

I have an investment property with a small front yard and average sized backyard. 

Hi Jim, if the property isn't being used as a STR currently, certain DSCR lenders can use data like AirDNA to qualify for financing.

Purchase price: $195,000 3RD RENTAL PROPERTY AT 25 What made you interested in investing in this type of deal?

I have had a passion for real estate at the start of 2024 and I am hoping to buy my first property shortly.

What I have saved would ideally go to filing an LLC and earnest money when I get properties under contract.