It makes common area insurance more expensive, it can affect the availability of mortgage financing, and it significantly increases the association's administrative responsibilities.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

Does anyone have a template they require contractors to sign before starting a rehab project on a BRRRR or flip?

-Decide between fixer-uppers, which offer customization and appreciation potential but require more work, or turn-key properties, which provide immediate rental income with minimal effort.Hiring a Property Manager:-A property management company ensures efficient marketing, tenant screening, rent collection, and maintenance.

I am concerned that I could be taking too much risk by investing in a currently undesirable area versus spending more to enter the market in a more expensive area nearby that is currently thriving.3.

A bedroom requires ingress & egress.

But in majority of cases this should not violate your terms- DSCR requires the property be an investment rental once you purchase it the property can be STR or LTR.

Hawaii is #1 most expensive state in US so it's more suitable for appreciation/flips play.

The apartments will require about $40k to bring all three up to rentable condition.

Remember that effective mail campaigns require multiple touches, and it's important to continue skip tracing to reach absentee owners who may not receive standard mail.If cold calling isn't your preference, consider hiring a virtual assistant (VA) to manage this task for you.