Questions and comments will naturally develop during the story.

use private or hard money to buy and fix, then apply a conventional afterwards. if you own it for 80% of the ARV then you can get 100% of cost mortgage.

Here are the laws in regards to this stuff.4735.01 [Effective Until 3/20/2019] Real estate broker definitions.As used in this chapter:(A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following:(1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate;(2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate;(3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate;(4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate;(5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants;(6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate;(7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate;(8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners;(9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.

-Since you have to pay for application fees $90 in our case (non-refundable ) plus a $250 holding fee (non refundable if approved and refuse to sign the lease ) I do not think it makes sense to apply for several locations.

Does the 2% rule still apply for a property you fully own already?

I currently own 3 STR properties and am currently applying for a HELOC against one that I own outright.

Most auction companies if the house is occuppied will tell you your not allowed to approach the homeowner.I violate this everytime.. set max bid and semi stick with it though.. but one trick is its human nature to stop at round numbers IE I will bid to 205k and thats it..

Self-directed IRA A Solo 401k has several advantages as compared to a Self-Directed IRA including the following which specifically apply to your situation: Unlike a Self-directed IRA, you can have the account for the Solo 401k at a bank or brokerage that does not charge maintenance fees and where you will have checkbook control.Unlike a Self-directed IRA, if you use leverage (which must be non-recourse financing in either case) to acquire real estate with your Solo 401k the income will not be subject to Unrelated Debt Finance Income taxGeneral Considerations Re Investing Retirement Funds in Real Estate:1.

The process is so different from each other and attempted to apply what we knew from Phoenix to Milwaukee and made some mistakes along the way.

One thing you want to keep in mind is that banks will count any mortgages you have against you when you apply for your 2nd property.