I’d identify the criteria for your first house hack (storage, parking, BR/BA, etc), get to know the market in your target area (avg price for your target property/days on market, etc), calculate a budget for down payment, closing costs, maintenance, emergency repairs, etc.

Even still, another part says, partner has to put x% of buyers commission into LLC emergency fund which is returnable upon sale of property or when emergency fund is funded to y% with net profits.I’ll take any thoughts on the 3% commission.

I have no confidence the legislation will emerge from Congress as an even deal, but any bill that looks something like that is better than what we have today.I am interested in the outcomes of the eviction ban lawsuits as well.

We recently rented our first long term rental and got a message from our tenant that they had a family emergency and that they needed to get out of the lease after only 4 months. 

Plus with some routine maintenance such as annual draining and valve testing, gas heaters can last 20 years, electric 12-15 if you replace the anode rods halfway through.If you are worried about 24/7 coverage, around here there are plumbers that will do maintenance plans for $15-20/mo that would cover the building, provide free annual service inspections, and provide a 24/7 emergency number you can give to tenants.

What system does he put in place to handle emergency phone calls on Christmas night?

For property management, I want to make calls like I am a tenant with an emergency or want to rent a place. 

And I’m wondering if it’s a good idea to start looking for deals and try to get my first deal while I don’t have much of an emergency fund saved up nor a savings?

lets say you have $300,000 in trapped equity and want to buy your first rental for $125,000. is it smarter to refi for 50K so you have a down payment plus emergency spending. is it smarter to refi the total 125K and buy cash?

@Gregory BouletContact the city and let them know about your desire to have a new address for safety and emergency response.