You can use property management software that does everything online.

How many property will you need?

I spent 14 years as a CFO/CPA for a $300 million farmland management and equipment auction company in North Dakota. Last year I left it all and purchased a boutique STR company in Arizona. It has been quite a journey ...

For those who have been investing in rental properties, what are the biggest financing challenges you've encountered, and how did you overcome them?

I have an opportunity to purchase an off market deal on a property in MD. 

We have stared the project about a month ago, completely new interior including adding new HVAC all new electrical, flooring, cabinets, tops and so on along with new driveway exterior paint and some siding.My contractor is also an investor, so we were lucky there, good insight to share and also, he has lots of leads for renters.But he is NOT a good photographer LOL. here are some progress pictures .Also, I will like to share that we are closing on one more single-family property early next week and we have a duplex under contract._________________________________________________________________________________________________________________________________________10/12/2024.

If you are doing your part and really looking at the property and dug in deep on the underwriting, you should be good to go.

I am in the process of buying a commercial building in Savannah, Ga and know there is a lot of discussion around “climate change premiums” in relation to insurance. 

I would think they would.I was just thinking after seeing someone one the news who had their life savings in Florida STR's.I think it is important to diversity and not have all income producing properties in one place especially when it is prone to a certain type of potential destructive weather. 

Hi Kristi,If you plan to hold the property for the next 5 years, opting for a 5 year prepayment penalty makes sense, as it will significantly lower the rate.