Martin Burns (253) 507-5586 or  Ed McFerran (253) 471-1200.

If you live out there you might buy a burned out house and rebuild.  

The insurance replacement cost of $236K might be a bit overkill unless you're planning on burning the place down (just kidding!).

This is 100x more true if the property is in a C or D area.I'd suggest reading up on the topic on the forums, where you'll find many examples of inexperienced investors crashing and burning hard trying to do OOS REI...the story is usually the same--they had no experience with REI, they couldn't find any cashflowing properties locally, but they saw that properties in other states (often the Midwest) cashflowed well on paper.

Throw in literally anything you want, plus salt, and boom you have chicken soup, with all the great nutrients from those chicken bones/fat.

I got burned by multiple contractors out there so be careful who you hire.

All I can say is I have a burning desire to gain the knowledge necessary for success in real-estate.Down to the point of this post, I would love to hear from any of you who would be willing to provide me with suggestions of materials that were key to YOUR success and how it helped you.

In this situation i would look into refinancing from a Variable into a fixed just to drop payments and stay afloat if you can't afford the $150/month burn.

Agreed mate.Too many variations and mud thrown on the word over the years.Maybe we should come up with a new phrase lolSomething on the lines of "House Hacking" and "BRRR" 🤷‍♂️"Fully Renovated And Tenanted""FRAT" property investing lolCut the FAT and invest in FRAT haha

However, my 8-unit just burned down a couple days ago and it is not livable (and won't be for some time).