It's all in how conservative you are in your approach to underwriting your deals.Even when a Seller says they've improved the property, the tenants are still tenants and do damage to brand new improved units. 

Looking forward to seeing your progress—this community is a great place to learn and grow! 

I live in 2 - small mountain towns out west and small beach communities in FL.

If you’re looking to finance a rental purchase, a DSCR loan could be an option, as it focuses more on the property's income rather than your personal credit score.In the meantime, you can get your current property rent ready while also working on improving your credit.

I think the right investor would do 2 units long term one unit short term. this strategy allows you the greatest flexibility. we are also developing an extended stay hotel that's 58 rooms. the size of the average room in that is 216 square feet and rents for a target $80 per night. our development cost per room is 100k per room with hard construction. the smaller you go the more money you make. if I was to suggest anything it would be to focus on the smaller part of the market and on multiple unit dwellings and finding and identifying markets that meet similar numbers. that will probably be midwest markets.

Hi Calvin, if is it listed with anyone, it may have a similar address and a realtor posted your address by mistake,This happened to me a few months ago whereby I own a condo in a community that has 3 building and I own A6, but they were trying to list C6 and only added 6 to the MLS listing lol.

However, the 1031 exchange only applies to the real estate component or real property, of the business, not the business itself or its non-real estate assets.In other words, while you can exchange real estate used in your business for other like-kind real estate, the business itself, including goodwill, equipment, and other non-real estate assets, does not qualify for a 1031 exchange.To maximize your tax deferral, focus on the real estate portion of the sale.

Since you’re already diving into BiggerPockets, focus on clarifying your investment goals (house hacking, multifamily, or BRRRR), building your network with experienced investors and lenders, and most importantly, taking action by analyzing real deals.

My plan is to mainly focus on cash flowing properties that make the 2% rule. 

In several communities their ordinance says no more than 3 people unrealted by blood or marriage may occupy a residence.