If someone then wants a showing I will say, "great, we will be performing a background check and need a $35 per person 18+ years old applying to live in the home - after we have processed this successfully I will gladly show you the property in person."

As for why to sell, we own lots of vacation rentals in different areas (we just haven't sold any of them), and this is not one of the higher performing ones. 

For the lender to pick up more exposure, they tend to look at the performance in an asset and typically I have seen anywhere from 30-40% down and interest in the 6's.

@Mike MakkarI own several other rentals and so my personal residence could just be a very poor performing part of that business or I could just pay my mortgage payment to the rental business as rent.

I'd make $300 a month from the rental, and it is brand new with a 1 year warranty, so maintenance costs would be delayed for a bit.Thanks for advice!

But i would never factor in less than 5%...up to 10% in certain conditions.Same for Cap Ex...10% is a good number, but we know that if its a brand new building that you plan on holding less than 10 years for example... this should relatively be low But the opposite is also true.As for management, I would not factor in less than 6-8%... even if you manage yourself to start you should take it in consideration, especially if you re planning to expand and get more doors.

You can buy performing notes which is passive and collect checks.

Hello, My name is Matthew. I come to you from Newfoundland and Labrador, Canada. I'm new to the bigger pockets community after only having read one of their books however Im excited to be a part of such a great group ...

I would talk to the Board of the HOA and find out if they'll reduce or forgive the fines associated with these violations in exchange for a performance bond that you'll get it all fixed.Most HOAs just want the stuff fixed.  

I have a FT job at a  bank but I'm planning on devoting at least 40-50 hours a week to my real estate career.Can anyone give me an idea of how much volume do brand new agents sell the first 1-2 years?