Add 3 more months of monthly expenses ( including utilities, insurance etc) to cover the vacancy of potentially distressed property. 

I'm brand new to the world of REI (and to this forum), and just wanted to connect with other like-minded individuals, and hopefully get your advice. 

If your long term goals include investing, this is a great opportunity to start, with a property you already own.

Depending on where you are purchasing - look for major brand outlet stores.   

Not sure what else should i include in the monthly due.

Finding deals (which a good agent can definitely help out with) is step one, but we find that a lot of investors struggle with the next 3-5 steps of a successful project which includes team members such as project managers, contractors, property managers, insurance agents, lenders, etc.

Whether it's paperwork headaches or communication mishaps, lay it on here.As we dive into brainstorming a brand-spanking-new prop-tech platform, we're itching to hear your wish-list.

Hi Moshin, unless tax planning is outlined in the engagement letter you would've signed, then that would not be included.

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Consider working with contractors or renovation specialists to obtain accurate cost estimates and assess the feasibility of your renovation plans within your budget constraints.Risk Mitigation: Keep in mind that renovations come with risks, including cost overruns, project delays, and unforeseen complications.