For example if it is a 1970s property you may want to hold $300 a year in cash to account for unforeseen events. 5.

Once I had money at risk, I found that it is more important to be committed to seeing the project through, rather than bailing out because an unforeseen obstacle presented itself.

@Art MaydanYou'll want to run everything by your tax CPA/EA who knows your facts and circumstances and can properly advise you.

Special events such as weddings will always take place regardless of economic circumstances and these events usually want live music.

You definitely want to make sure that your CPA is familiar with those nuances, particularly as they relate to your circumstances.

I'm not a Utah realtor or very familiar with what happens in Utah for such circumstances, but in AZ, a lease would default to a month-to-month lease if there is no agreed-upon term in the lease.

Anyway, I couldn’t imagine unforeseen expenses and roadblocks on a $6MM property.

I’m wondering if there might be a better way to begin investing given my circumstances or if there is a better alternative?

I purchased a house at the sherif saleIt is in a neighborhood that the average house s 1500 SF selling at $120 per SFThis house is 2500 SFI purchased at $151k cashDue to a serious unforeseen issue my assumed rehab cost of $90k turned into 110kMy holding cost is 950 a month all expenses inMy issueFor someone with $300k would probably want to go to a different areaAfter broker fees my lowest I can sell to break even is $280kI tried $300/295/290 with no luckMy questionDo I take a loss and dip lowerOr Rent for $2200 a month After all expenses I will be getting a 5.5% COC return

Your circumstances in Wyoming may differ.