We financed the Dearborn St project using our standard Partner Driven strategy—covering all the necessary capital for the acquisition and renovation.

You have the area experience and data to help you, but courthouse steps auctions are blind bidding (other than what you can find through the windows), all cash, 10 percent down at the time of close, and not always clear on all of the liens associated with the house (tax liens, HOA liens, utility liens, etc.). 

Not all are expensive.

They setup to assist clients from all over the US and have great online/mobile banking system so you don't even need to go to a branch for your banking needs.

Hi All, First time out of state investor.

More deals to be found that way.Median Home Price in Wake County is $490,000 for all real estate, up almost 1% from this time last year.

If all the students live on one side of campus and you buy on the other, it may not be rented as easily.I'm glad you found a niche to go after and master.

Make sure all income and expenses for cottage run through the new LLC and bank account. 

HELOC money is expensive money... so i think you need to take another look at the expenses and make sure you're including all of them - not just PITI.and you may know this, but i'll remind you - HELOC payments are usually interest only for the first few years during the draw period. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.