There are so many ways to approach this model, from buying existing, to retrofitting homes, to building new.

The property has been in excellent condition since it was built two years ago, and I’ve lived there myself without experiencing any similar issues.The lease is a standard Texas lease, and I’m seeking advice on how to approach this situation fairly.

Here’s how I’d approach it based on my experience and Cardone’s principles: 1.

Approaching it like that would also automatically set an expectation for the owner to pay maintenance expenses. 

I prefer a more passive approach at this point as I know my own capabilities.

2.) looking for advice on how to deploy 600+ thousand dollars into real estate and start receiving the cash flow from it without having to pull the 401(k) out and swallow the tax ramifications.I currently own 13 units and receive healthy cash flow from all of them, but I am looking to increase my cash flow so I can ease into the next phase of my life which includes work of a different kind but not doesn’t having a 9 to 5 job.Thanks in advance!

This approach saves you time and effort while keeping you in compliance.

Reaching out and asking about it gives them a chance to explain and shows that you’re approachable but serious about rent being paid in full.After that, check your lease agreement to see what it says about late or partial payments.

That approach will take you forever.

I think your best approach is to pretend you are the investor yourself, calculate build cost (mortgage with interest) + Maint / cap expenses/ management fees according to your zoning and then compare that to the average rent in that neighborhood.