There is a very limited geographic region that allows vacation rentals.

We, as RE professionals can limit exposure for ourselves and our clients by implementing prudent due diligence on tenants; by ensuring our tenants are properly licensed, operating within the law and keeping their operations to code the changes of the DEA / DOJ seizing assets is (in my opinion) next to zero.

Usually with enough notice you can make some changes to the lease, you would have to check your lease to see what limitations there are, if any. 

This I think is what really limits not licensed people from getting into management.

Research Proposition 13 limits tax increases to 2% per year.

If you own the properties free and clear and you want to ull cash out within the 1st 6 months of being on title, then you limited to the Delayed Financing rules with Fannie Mae.

Then once you are working on the deal, you'll continue to update the numbers to make sure you are tracking.Good you are getting GC costs, but make sure you get all your soft costs, insurance, architect, CE, MEP/S, soils, environmental (Phase 1) if needed, condo map completion, dept. of real estate condo map sales process costs, etc.My observation at this point is that my ability to guide you through the process via BP posts will be very limited.

Steps: Sign up for a class, complete the online application with DBPR, sign up for background screening, complete class (DBPR has to clear you before you can test), take state exam, join brokerage, broker submits your application to state to join their firm, license becomes active (you cannot sell real estate until your license shows active with a brokerage), and then join Board of Realtors for your area. 

Thanks for the great information! When in the redemption stages of notifying the investor who purchased land for taxes on land that has a structure.  What does the code 1975 40-10 say about receipts for repairs or imp...

I’m here to ask the experts which route I should take, if any.Basic details about me: I’m 34, recently married and no kids but planning to within the next 2 years(this detail is just for you to know that I don’t have much restrictions on moving aside from commuting)I currently own a coop in Yonkers, NY with roughly 50k in equityI am willing to invest in the tristate area but if I have to live in the property I have to limit my distance to Bronx, Westchester and Connecticut.I also have enough saved to buy a 275k property with 20% down or the max allowed with an FHA loan (this is without having to sell my coop)I have excellent credit which will qualify me for loan without an issueThe way I see it I have 3 options in order to get started: Sell my current coop, buy a triplex in a worst neighborhood with more TLC needed, and move to into the property for at least 2 years to qualify for an FHA loan.