This is the breakdownLoan CostsA.Origination Charges$1,7820.325 % of Loan Amount (Points)$492$150Application Fees Lender Fees$1,140B.Services You Cannot Shop For$1,044Appraisal Fee$850Attorney Review Fee (TX only)$150$13Credit Report Undisclosed Debt Report$31C.Services You Can Shop For$2,699HOA Transfer Fee$150Resale Package$300Survey Fee$539Title - Document Preparation Fee$50Title - Escrow Fee$425Title - Guaranty Assessment Recoupment Fee$2$130Title - Lender's Endorsements Title - Lender's Title Insurance$1,103D.TOTAL LOAN COSTS (A + B + C)$5,525Other Costs E.

We could have waited and purchased something at a better price, but the 2021 Q1 housing boom tested us with 8 declined offers. 2) You'll spend more on a purchase for yourself than you would on an investment.

This is a LTR.As I look at what we could have done better and preparing for the next investment, I’m curious for some input from the BP community:- When you’re investing out of state, do you build relationships with banks local to the area you live or where you are investing?

In the mean time I am reading, listening, and watching as much content as I can so when the time comes I will be better prepared.

Teach toward that, and use assignments and tests as a means to that goal.

There is simply far too much variability person to person and you may end up with a local PM who is really good at what they do OR one that is really connected OR one that pays people to refer you to them . . . and there's really no good way to tell until you've gone a few rounds with them.Best case scenario:  have two homes in the same market and test them, one under each PM paradigm, and see how you like the operations and returns after 3-4 years.

I don't want to scare you out of your deal, I just want you to be prepared for a scenario to handle more expenses down the road. 

I will warn you that that is a small list and there are literally (and I mean literally) hundreds if not thousands of solutions out there.The other thing I would recommend is you document your process and test the solutions against what is most critical in your existing business process.

Should I have a letter of intent prepared?

Get a price, test the waters, Etc.3) Don't build at all right now.