So you have a great tenant that takes care of the place and their current 2 dogs have been controlled and not damaged anything.

there is a long thread going right now on the risk you take using IRA money to buy fixed assets.being the bank is more appropriate as long as you pick good notes.. what happens when you landlord in a IRA you cant commingle personal funds with the IRA asset so you get a bad tenant that does lots of damage you cant use personal funds to fix it.. so if you are going to use IRA to buy you need much larger amounts of cash left in the IRA for any unforeseen expenses.

Everything else has to be refreshed : Floors (carpeted, heavily spoiled and cat urine odor) Ceilings dry-wallWalls dry-wallElectrical is out of date (knot and tube all over, electrical panel needs replacement) Risks: Sanitization (cat urine smell, potential for pest problems)Structural integrity not checked (unable to check in a timely fashion due to deadline)Evidence of water damage on main floor ceiling, extent of damages unknownNo smell of mold in basement but knowing the city history of flooding, this is uncertainPlumbing looks recent but it was hard to be absolutely sure of this assertionThe reason I decided against in the end : too many unknowns.

They want a property that needs work, but not necessarily one with extensive damages.

They want a property that needs work, but not necessarily one with extensive damages.

3) Donate 1% of our revenue to local community development or social causes We feel it is our duty as real estate investors, landlords, entrepreneurs to help make the communities we operate in better places to live for everyone.

My lender did the Loan as a investment property cause of my self employment.

Coincidentally, I listened to your podcast yesterday, causing me to reevaluate the percentages I have been entering for repairs.

I tried using a big name lender initially but that turned out to be a headache and cause problems.

Employment hasn't gone down and there isn't any major issues that would cause the market to crash.