Hi there, I was in the process of acquiring my first deal as a rental property using FHA but after the inspection, I decided to walk away.

Purchase price: $390,000 Cash invested: $78,000 First investment property, turned into a short term rental, walking distance to Arizona State University, Tempe town lake and downtown Mill Ave.

Case study:1 of my personal downtown units is booked 60% (18 days) while the market is 29% (8.7 days)This unit is 3 floor walk-up with no parking so I keep it at the lower range price-wise.Property ADR - $121Market 25th percentile - $139Market 50th percentile - $162Market 75th percentile -  $191Assuming they are all getting 29% occupancy vs my 60%, revenue is as followsProperty Revenue - $2,178Market 25th - $1,209Market 50th - $1,409Market 75th - $1,661In fact, to hit my number at their rates, I'd need the following occupancies.Market 25th - 52%Market 50th - 45%Market 75th - 38%I'm just trying to find that balance.

According Grant, whatever you normal realistic goals are multiply them 10 times (10X ) then figure out, how you can achieve them.3 Walk the WalkYour daily activities & actions must match your goals, if you have aggressive goals, you need to have equally aggressive daily activities & actions to match your aggressive goals.Goals are just wishy washy, talk the talk unless you back it up with aggressive hard work & be willing to walk the walk.You need to work hard & smart, it is not uncommon for successful people to work 60-80, 100 hours a week to achieve their goals.4 Develop Great habitsHabits are routine things you do daily basis without too much thought process.

I walked into my local real estate company (Coldwell Banker) and said I wanted to buy a multi-family home in the area.

Also suggest she moves to an online payment like zelle or paypal where you can request money by a due date to gently remind her and then send ongoing late fee requests to for the late fee as it builds so you don't have to feel you are walking on egg shells.

I would recommend you find a fire restoration company/contractor to walk the property with you and give you a good understanding as to what needs to be done.

Here are the details:Relinquished Property Sale Price = $310,000Closing Costs = $25,000Mortgage Payoff = $35,000So, after the two transaction costs listed above, we'll walk away with $250,000 deposited into the QI fund.That would be 1/3 of the new property cost, roughly equivalent to the value of the investment portion...or does the investment portion need to be equivalent to the actual sale price of the relinquished property--in this case, $310,000?

We went to Home Depot and found a knowledgeable employee who walked us through the different brands as well as pros and cons.

A good intermediary will walk you through all of this exactly how you want and what's allowed.