Hello BiggerPockets community,I am a new Real Estate Investor and would love to get some feedback on our strategy.Goal: Achieve sustainable income of net $10K/month, while the properties appreciate long term. I am a b...

.- I could easily put down a cash down payment and given my wages in Los Angeles, if need be, pay the mortgage when it is not being rented.- What are the potential problems other than not being there in person 24/7?

Since the original lease already includes a provision allowing for a month-to-month extension, and both parties have been operating under this arrangement for the past 2 years, it makes sense to just add the terms of the long-term extension to the existing agreement.

So, anytime a mortgage is involved a wet signature is required per the lender and their capital partners. 

Complete due diligence (geotechnical report, environmental testing, asbestos if you have to demo an existing structure)6.

Synergy Mortgage, Clarissa Pride.

At one time, my only debt was my mortgage... then I moved 1000 miles and all that changed.

I pay $1000 per month on my own mortgage.

We purchased a property right next door to an existing property we own.

Oftentimes when municipalities ban STRs they will grandfather in existing operators, but if you are mid build when they do that you’re screwed  Once you’ve identified a list of “safe” markets, compare them on Airdna to see where you can likely charge the most (I’m assuming building costs will be more or less similar, so you might as well pick the area where you can earn more revenue)Also, in this market you may be able to pick up land with seller financing instead of having to buy in cash or traditional financing … potentially low or no money down, and won’t affect your personal DTI.