Purchase price: $550,000 Cash invested: $1,050,000 7-unit new build to rent What made you interested in investing in this type of deal?

Team,Im having a tough time finding an insurance provider for my medium term rental in Pittsburgh and I'm looking for suggestions.I own the building (triplex) where 2/3 units are traditional long term rentals, and 1x unit is a medium term rental.

In the lease, obligate the tenant to conduct a move-in inspection within a certain timeframe after move-in and to provide you with a move-in inspection report with supporting documents or photos. 7.

Other than that though, my main question is if the land isn't to expensive, will building come out to be cheaper than buying preexisting.

Needs some general thoughts and inputs on this deal: 12-unit apartment all 1Bed/1Bath, 2 buildings (within the same complex), built 1965 and 1974, listed in April 2024, listing shows it is 100% occupied, but found some recent listing for rent for some of the units for $595/month. 

I have this idea floating around to build an extension on the property or a separate ADU and finance it myself prior to refinancing, but that might be a bold move this early on in my REI career. 

Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

Once you do one, most lenders require the same documents to estimate. 

We looked at full time management locally but decided to build out a team instead. 

You mentioned the semiconductor chip factories in Sherman and Denison (suburbs of Dallas), and I'm assuming you're referring to Texas Instruments building out and renovating new semiconductor fabrication factories, which is absolutely true.