Company is run like a businessMarketing and sales divisionProperty owners are not involved in decisionsSystems are documented and automatedAncillary fees and additional programsHave maintenance or real estate departmentsTypically > 100 propertiesBusiness owner not heavily involved in operationsModel 3 - 20/20 Plan variationNo or very small amount up front.

(Groceries, furniture,  pets, kids, etc etc.))If you plan to live there and you are quiet then maybe, if you want to live upstairs.

.- It needed a community face lift and re-brand (was called windmill apartments....yuck.)We came in and strategically worked our business plan:- We upgraded the exterior including fresh paint, signage, and landscaping.- We removed delinquent tenants and changed the community standards around to provide a safe and clean place of living.- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.When we took over the property the 16 units were producing around $9000/month in gross rent.I just checked our rent roll today, and we just crossed $17,000 in gross income monthly!

Conduct thorough market research to understand rental demand, property appreciation potential, vacancy rates, neighborhood trends, and economic indicators.Please take some time to review your financial goals and develop a strong financial plan for acquiring and overseeing new properties.

Do you plan on living in it or is this for investment purposes?

I recall a case where a court held that the act of having engineering plans drawn up was the first act of visible construction.A quick review of DC's lien provisions appears to show that a sub's lien rights relate back to the date of first work and the sub has up to 90 days after completion of the project to file so someone who close on a purchase of the improvement 60 days after completion may wake up to find a lien has been recorded the next day so it's not gap matter, it's a post-closing matter.

This will help some in planning for cash flow.

And don't forget to think about property management, whether you plan to handle it yourself or hire a professional company.Before purchasing your first rental property, it is important to conduct a detailed financial analysis using tools like real estate investment calculators or spreadsheets.

Depends on what you plan to do with it.

The plan is that I would refinance after the property rehab to pay off the HELOC and the rehab costs, then probably just keep it as a DSCR loan or refi into a 20% down conventional.