I recently went into a 50/50 LLC with a college friend to buy our first property in the college town we attended.

Hey everyone,I’ve noticed a lot of discussions lately about finding the right property manager, so I wanted to offer some insights for those in the process or considering it.

I want to add AC to this property and leave the boiler in place.

I would like to get my first investment property before the end of the year. 

Purchase price: $594,000 Cash invested: $153,000 Closed on my first investment property,A single family residence of 3000sqft ( +another 800sqft unfinished basement) on a 0.25 Acre lot.

It seems in order of increasing profitability:LTR < MTR < STRGiven that I'm based in the Denver metro area, unless I'm occupying the property as my primary residence, STR is out the question, as Denver has cracked down on the short tern rental laws.

Diverse potential property that can be turned into a STR, MTR, LTR.

My calculations are based on 2 sets of numbers - the numbers the seller has provided, and my own calculations accounting for 5% for vacancy, 5% for repair, 5% for capex, 10% for property management and actual costs for property tax/insurance.I am trying to decide if this deal is worth pursuing or if I should walk away due to the premium on the homes.

Welcome to BP - do you have your eye on any specific properties already?

Will having that home on our credit negate us from being able to seek additional loans for other properties?