Also cash returns tend to overstate the real return because not all depreciation is "paper"; depreciation is supposed to (and to some extent does) proxy that the property gets worn-out after a while and you'll need to spend additional money at some point on capital improvements to keep it in shape to be rented-out.Also how are you only putting 6.7% equity down?

In addition, get in touch with any real estate expert or anyone you trust willing to help in the process.To keep abreast of market conversations, you can make use of such tools as MLS Listings, Zillow, and Redfin.

So much that I'm sharing it with anyone that is struggling to keep the right people in the right seats. 

Please keep in mind when you do identify a lender that will take on vacant land- they will price the deal at a higher interest rate and will keep a low LTV to minimize their risk. 

Create residential densityPlease do not hesitate to reach out with any questions or for more information on pockets around Charlotte to keep an eye on :)

I could, in theory, just keep some money in savings to float these costs, but I'd really rather that money go to buying another property instead of sitting their floating money to pay contractors.

Keep in mind that a partner also shares in LOSS!

However, you run a risk that you might have to prove to the IRS that you did, in fact, paid this interest, so keep good records.

Hi Margarita-Great question.There are many mental blocks and friction points to buying your first property.First off, just buying property outside of a first or second home to use is not done by most people and buying your first home is a major purchase for most people.That means the people in our immediate sphere of influence are not thinking about buying investment property, they see it as risky and out of a sense of protecting you or themselves encourage you not to do it.I remember having the same mental blocks and fears you probably do thinking about buying your first property or first investment property.The most critical thing to overcoming these mental blocks is self education and surrounding yourself with the best team of people to help you.An investor friendly Realtor who can refer you to an investor friendly lender, title company or closing office, property inspector, property manager, and insurance agent.Real estate is relational and having the best team will keep you out of the weeds.To Your Success!

There are no guarantees, but performing due diligence, an assessment of character, and affordability is what keeps up in business.