The loan program qualifies the property by using Rental Income to cover the Total Mortgage Payment which includes Taxes, Insurance, and HOA.Regards,Michael Taylor

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.2.

I just received the appraisal for 2024 and the assessed value will increase $28K, increasing my taxes $600 if the tax rate doesn't increase.

Additionally, because it is a new construction, it is taxed as raw land for the rest of 2024, which will only be about $30-$40 of taxes for the remaining seven months of the year. 

Another tip is to pay close attention to the pool area. 

Any advice/tips/ resources greatly appreciated. 

And any other advice or tips from y’all as you started this journey would be much appreciated.

This way, the seller gets 87k in hand, won't pay nearly as much taxes up front on a huge cash sale, will still be generating about the same amount of income as he is today, consistently for 20 years without the headache of managing it or insuring it.  

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

With a minimum 30-day rental period, tight registration criteria limited to permanent residents, and associated compliance costs such as fees and taxes, entering San Francisco's STR market without first examining these restrictions may result in problems and severe fines.