We've chosen not to do a formal due diligence including ARV projections, cost per sq ft of rehabs in that local market etc, local title company selection, title search etc.This file may not proceed as we are dedicating resources to those with a likely probability to close.But again, thanks for engaging.

I use apartments.com and zillow.com for processing payments including both rent and security deposits.

Subsequently, we discovered multiple leaks in the roof, resulting in water damage on the top and bottom floors, including mold growth in our closet on the bottom floor.

You'll get a lot more out of it, including a lifetime friend in the business if things progress well. 

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

That includes landscaping too. 50$/month is pretty low if you have to get a company to do it but I’d just deal with it myself. 

You may find that it provides that her coverage continues so long as she holds an interest in the property, including holding a purchase money mortgage securing a portion of the purchase price of her sale to a third party so a new lender's policy may not be needed. 

@Tyler Ferguson It will be a little easier for your taxes and finances if you create a separate account for all of the property's income and expenses including the personal and rental part.

This could include an annual licensing fee from your municipality or a stray utility bill or whatever. 

If you factor in 8% PM, 10% vacancy including economic vacancy and capex/opex of 10% (5% each), your costs (still not including T&I) would come up an additional $2016, for a total of $8895 at 1.25M and $6969 at 900K