This house is the worst house in a nice Historic district.

So in the worst case we'd be at 40% running costs, though he thinks as we scale it would be more like 35% as we wouldn't need to increase staffing.

I am a newbie investor from NJ and I would love to hear about some of the REI mistakes you have made during your real estate journey !

Buy price should be low enough to factor in worst case scenario.

That was very well put I agree 100% with all that you said the ones that don't get it are the ones that are afraid to make a mistake or be wrong it can happen but it also can not happen.

She said she would go extremely low just to get rid of it as fast as possible I was considering wholesaling it because there is money to be made for someone willing to wait for the right buyer They are not willing to wait A flipper offered them $15k so I told them at worst I could do a lot better than that.

-A good contractor(s) are invaluable-A relationship with a local lender pays dividends-Make mistakes the sooner the better-Never know who you're going to rub shoulders with, stay on your A gameHere's a few pics:

I made so many mistakes, and learned a ton!

I always take worst case scenario into perspective.

The alternative is to have the title under a business partner, either a friend or family member, to keep things legal (mortgage will likely be under my name).Worst case I stay at the Marriott and keep the MFH as a pure rental but that extra $2900/month going towards the property during the months I’m TDY would be nice.I’ll discuss with my local Finance office as well but just wanted to see if anyone has had similar experiences.