While this may exempt it from being classified as a rental activity, active participation remains a requirement, necessitating compliance with three tests: spending 500 hours on the property, dedicating at least 100 hours (and more than any other participant), and performing all the necessary work needed.Additionally, long-term viability and consideration of depreciation recapture are important concerns.

Or call your preferred settlement agent and ask them to provide their seller settlement costs, then add in any commissions, HOA, termite/moisture inspection if required, etc.

The more familiar they are with the area and the laws/requirements for working in that area, the better.

We are paid to live here after all expenses- T, I, maintenance, utilities,  internet, etc. 

I'd find a lender that can do deals with brand new companies and do not require seasoning, if you choose to go that route. 

And I used the small profits to put towards savings for my next project or for maintenance on my house.Based on my experience...I would do the same over again.

Every state has its own requirements for what must be included in a lease and then there are all the Federal overlays.

Being close to your rental allows for easier management and maintenance.

Watch out for fine print that requires an additional fee at closing - this is a huge red flag and how most flat fee companies make money.

DSCR generally requires low documentation, no tax returns or W2's, and you can put all of your investment properties in separate LLC's to protect your other assets.Let's connect