While algorithms can analyze data at scale, real estate isn’t just about numbers—it’s about nuances and the most important component of real estate is understanding its value, and that to me (maybe I am old school) but can only be done by physically visiting and walking the property.So for me, factors like local market conditions, property inspections, and borrower credibility can’t be fully captured in a formula.

Hows the market up there these days?

Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

There's a tenant that's month to month, rent is at least $800 below market rent, so I told the seller I need that unit to be vacant.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

I am leaning on local first for my next investment, but not ruling out an out-of-market opportunity. 

Whether you’re looking at SFHs, duplexes, or other properties, it’s important to pair on-paper data with boots-on-the-ground knowledge to really get a sense of values.If you’re considering anything serious in Detroit, I’d recommend connecting with someone who knows the market inside and out.

.- Short-Term Rentals in Non-Traditional Markets: Secondary markets like Florence, Alabama, are ideal for short-term rentals.

Especially in a more competitive market where the options are plentiful.

Two other things to note about #401kloans:Possible benefit if the stock market turns south, the money outstanding against your 401k loan is no longer invested into the market!