So if you exclude Section 8 or other vouchered tenants, if the new ordinance goes through, you will have to allow vouchered tenants to apply and count their voucher as part of their income.most cities on the MO side are creating licensing and interior inspections to become very similar to KS, although KS has a state law allowing a tenant to opt out of mandatory interior inspections, no such law yet in Missouri, we are trying to get it passed. 

Seems like a great fit as I get to create $20,000 in forced equity by funding the repairs myself.My first 7-8 purchase all those years ago were like this but here is the problem with what I did.  

I've had a few discussions about the best way to create a plan in order to "snow ball" your way to owning many REI properties (buy and hold for rent).After Googling around and even reading blogs on this site, I've thought about doing something like the following:Buy my first rental property (SFH) with cash (around $60-70k) where I'd expect about $500 cashflow per monthCurrently I have about $105-110k available (after taking out an emergency fund)Then shortly after, buy my second rental property (SFH) but take out a mortgage and put down around 25% on a $60-70k houseThe cash flow on this property specifically would likely break even (at or near 0) but this would be on a 15 year mortgage and I can use some (or most) of the cash flow from the first to help pay down that mortgage faster, along with my corporate job monthly savings tooI feel I could pay it off anywhere from 5 - 10 years depending on the exact strategy If/When I get the 2nd one, then shortly after that, try and get a 3rd SFH rental property and continue this snow ball effect to build up by rental portfolioObviously this is easier said than done, along with risks and I honestly do not have any real experience with rental properties as this is my first time diving into this type of investing.My main questions would be -- Has anyone done a similar strategy to help build their portfolio quicker?

My idea was to create a Manager-managed LLC for each, with Operating Agreement showing me as 99% owner and son as 1% owner and then take a note (either HELO or 1st Mtg) on Rental B and pay off Rental A [because my Mtg Broker in Rental B state is great].I want my son to take 100% ownership of both properties if I die, but essentially be powerless for now (until his contributions of time/effort or money start kicking in). 

Something else to consider is the type of customers this type of business will draw.

After That, I need to decide whether to drive for the company or lease a truck and create an llc.

About two months after the payoff, I received another offer from the same lender, offering $200,000 at a reduced rate of interest since I was a ‘preferred’ customer.

Hi BP family, My name is Manish Chamoli , Newbie from northern NJ (Essex County) just getting started in real estate , I have couple rental properties and now looking to fully dive into it.Thank you Brandon and Josh for creating this platform , I have being listening your podcast which gives wealth of information , thanks again for creating such a wonderful community. 

One spouse being real estate professional, comes with it huge tax advantages including being able to use passive losses created by depreciation to offset any other forms of income.

People with unlimited resources create more "fits" than everyone else.