Quote from @James Wise: Quote from @Kee Lee: Quote from @James Wise: Quote from @Kee Lee: Quote from @Theresa Harris: Quote from @Kee Lee: Quote from @Greg M.: Spend a couple hundred dollars and have an attorney draft a f*** off letter. 

Thanks @James Wise!

We have solid tenants in our LTR so we are looking at buying more homes to do as STR/MTR hybrid and looking to learn more about how to use our investments and money more wisely ie BRRRR, etc.

Quote from @James Wise: Quote from @Alexander Blake Summers: Greetings all,We’ve all read methods on how to analyze a real estate deal, running numbers, estimating rehab costs, incorporating taxes, capital expenses, etc.

To make a wise decision, examine your comfort level, goals, local market circumstances, and property management.Good luck!

This is exactly my point though, even if I ran capex at 10% of gross rent, a $6k expense to replace HVAC in the first few years of ownership will take years to recover from, cashflow wise.

Do not pay to be approved yet, just find out.That will tell you what you need to be, credit and job wise, and how much you can buy.Look to buy something where the rent coming into you is more than the cost of owning it, which will include taxes and insurance, and downtime between renters while the unit is turned, and sometimes roof replacement, etc...

Quote from @James Wise: Quote from @Pamela Williams: Hi there.

You may create a profitable real estate portfolio over the next five years by being diligent and making wise decisions.

Think on things like the property's quality, prospective value, and desirability to tenants.Making use of an FHA loan with a small down payment is a wise choice.