Your tenant base for an MTR that requires a minimum 6 month stay is small.

Set up purchase criteria that will define success for you, an arbitrary minimum purchase price is not a great criteria, instead I would use something like proximity to good schools, neighborhood improvement trends, etc.Finding good deals is really tough right now so it is important to have criteria that are solidly grounded and based on reasons that will steer you toward profits.

Hi @Brooklyn Hunt, I'm based in Southern California, but I have started my out-of-state real estate journey in Indianapolis.

(just be sure you have the correct specs, so everything matches up properly)

In fact, the whole point of real estate investing and generating returns should be to make investments based on an advantage (knowing a good deal in the market, etc.) - if there was perfect information easily available to everyone - no individual mom and pop investor would ever have a chance at real estate investing returns at all...

The lender does IMO… Nobody declares bankruptcy if they own properties with cash unless they make dumb mistakes and cross collateralize.The cash investors might loose money but they won’t be bankrupt.Also, only when you build a base of 3-4 properties with cash, and fully understand the true income of your portfolio after consecutive years of performance.

Just try to extract what value you can, then focus on scaling your own business based on your own personal circumstances... one deal at a time.

If you have good credit above 740 and have 25%-30% to put down it’s really not a difficult loan process. 8 Units typically will offer a 1.25% DSCR ratio which is required in most cases but the approval is going to be based on the rents.

Keep updating it as your knowledge base grows.  

If the owner employs a management company, then the management company is required to obtain the business license - not the property owner.according to the tab (Profits Tax) on the same page above, I should NOT file form RD-108 either to pay KCMO city earnings tax, because I am a passive investor, and not actively involved in the management of my property.The problem is that, I did submitted my business license application a few weeks ago (still in the process) before I checked the KCMO web side.