Future sale price is set, regardless of market.

Hey Micah, that's awesome to hear that your first flip went well!

You have a 20 day notice and then a 21 day notice and set the foreclosure for the 1st Tuesday of the month. 

Setting up automatic payments for recurring expenses or using online bill pay services can help ensure that bills are paid on time and reduce the risk of missing payments.Overall, the key is to establish a consistent process for tracking and managing expenses for each property/entity to effectively manage your funds and ensure that expenses are properly allocated.

I recommend for out of state investors to buy in a class B or A area and a nice well occupied building.

The lender is stating the following: "we would require a mortgage on the lot in the amount of $90,000.00 when combined with your $50,000.00 deposit would be $140,000.00 down payment apx a 20 percent down payment"Is he saying I need to find another $90,000, or that he will act as the mortgagee on that portion as well? 

The bank is charging points as well just to get 8+% on the loan.

I haven't set specific targets beyond this initial goal, but I may aim to increase my passive income to $5,000 or $10,000 per month in the future.Current PropertiesI currently have two properties:The Loft:This property is rented out long-term and generates around $300 per month in passive income after HOA and management fees.The loft has approximately $100,000 in equity.The House:This is a brand-new build (2024) that I'm currently occupying through house hacking.I invested $70,000 in the property, which means I have $70,000 in equity.My plan is to convert this property into an Airbnb or long-term rental within the next two years.Short-term rental comps suggest I can earn around $3,500-$4,000 per month, while long-term rental comps indicate I can earn around $3,000-$3,300 per month.Seeking AdviceGiven my upcoming financial situation, I'm seeking advice on the best course of action.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

An added bonus is I'm not swarmed by day laborers, as well as my trucks don't get broken into.