Some people consider last year's actuals to cover the expenses and forget about vacancy allowance, expense percentage, CAPEX, etc.

I inherited a section 8 tenant when I bought the house last month who has been here for 10 years and has not paid his partial of last month's rent.

Lastly, they like building relationships with local investors. 

:-new metal roof that will last a lifetime-new gutters-new covered porch-new side deck entrance made of Trex material-new large capacity water heater -new Bluetooth thermostat.

(You can break this last rule, too, but it will create an accounting headache)

Yes, I must admit this is actually the first time I have ever taken rent up front and will probably be my last-- lesson learned!

Hey @Blaise Bevilacqua - I'm a broker & investor in NYC, also a househacker and have worked with multiple househacking clients in Brooklyn/Queens.If you're curious, checkout my YouTube page for a podcast episode with my clients that were in your exact same shoes last year that ended up purchasing a househack in Bushwick.

Buying pre-construction properties in Latin America to flip within a short period of time is a risky strategy in general but even more so today given the rise in prices over the last few years.Medellin is a great place to invest provided you buy the right kind of property but not because it's still undervalued according to international standards.

Last year was the first full year it was rented.

I put alot of importance in reading, so I made them read classics at 1st, then mindset (think and grow rich etc) then financial acumen (rich dad etc) thankfully they all have w2 jobs so 401k match, roth etc. 2 are homeowners (don't want to be REI investors) but the last 1 is saving for REI investing.