I recommend keeping the lease month-to-month until you know how these tenants conduct themselves (makes it a lot easier to get them out if they turn out to be problematic).

Once the property is under contract, it is important to conduct a thorough value assessment of the property.

Look to the exclusions in policies, personal type policies generally exclude activities conducted in a business venture.

I'm seeking guidance, insights, and mentorship from seasoned investors in the Dallas area who are willing to share their knowledge and expertise.Specifically, I'm interested in:Learning about the local multi-family real estate market dynamics and investment opportunities within a 250-mile radius of Dallas.Understanding the process of evaluating multi-family properties, conducting due diligence, and structuring successful deals.Gaining insights into property management best practices, tenant relations, and strategies for maximizing returns on investment.Connecting with like-minded investors and building relationships within the real estate community.If you're an experienced multi-family real estate investor in the Dallas area who is passionate about sharing knowledge and helping newcomers succeed, I would love to connect with you.

Your insights shed light on the imperative role of community engagement and ethical conduct, aligning seamlessly with the principles that govern our pursuit of excellence.Warm regards,Oliver Marson 

To conduct a proper professional-level analysis, you need to determine what your holding period is going to be.

Maria Elena Durazo, D-Los Angeles, that would critically hinder your ability to effectively manage and invest in rental housing in California.Here's how SB 567 could negatively impact you:Restricts your ability to move into your property: This legislation introduces a restrictive definition of an "owner," potentially preventing you from moving into your own property if you or your family needed to do so.Obstructs essential repairs and renovations: The bill could obstruct your ability to repair significant property damage or to conduct necessary renovations, even when tenant safety is at risk.Complicates property sales and investments: The bill introduces unnecessary obstacles if you're a small property owner looking to exit the rental market or sell your property.Your urgent action is required to oppose SB 567.

I just posted over in the Landlords & Tenants Forum about the Dangers Involved in conducting an eviction. 

Market Assessment:Discover the comprehensive and strategic approach taken by the property manager in conducting market assessment.

Conduct a Comparative Market AnalysisSo, you’ve learned how to estimate rehab costs accurately and conservatively, but how does this help you determine your profit?