Here’s how to handle those:•Negotiate inspection costs into your deal—in some cases, sellers will cover them.

  $6,500 x .75 = $4,200 which covers $4,000 PITI. 

I recently got pre-approved and am also on the hunt for my first investment property.

s post and Dave Foster's response cover the options concerning 1031 exchanges.

I used a HELOC to cover the down payment, appraisal gap, and furniture, allowing me to enter the STR market without depleting cash reserves.

Quote from @Sean Gallagher: If there is an existing lease, you must honor it.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I live in Honolulu currently but used to live in Tokyo (mother is Japanese) and still travel there on a regular basis (pre-Covid).

The new teaching were something like 50 ways to swindle a homeowner out of their equity; search there garbage to find bank statements indicating how desperate they are; trash talk the property telling them no one except you would buy it and low ball them; have an associate or 2 go by, look at the house, and point out structural deficiencies (just make them up even if they don’t exist).  

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty).