Make sure property is “self supporting” meaning sufficient income to produce some cash flow after operating expenses and debt is paid.If one does that, they are set up for a profitable long term hold.If one invests in a prudent manner and is never in a position where they have to sell, they ultimately win.The top or bottom of a market is never known until 6 to 12 months after the fact.I’m a long term investor - my capital is patient.Here’s a question to ponder:If you could buy a property today for $1M, knowing it’s value would drop to $950,000 over the next year but would be worth $1.5M in 5 years, would you buy it today or hope to perfectly time the market and get at $950,000?

Utilities If you haven’t already set up utilities, then connect your water, gas, electricity, and Wi-Fi.

I planning to have backyard installed in new construction SFH.I read this cannot be added to the cost basis of the rental property and be depreciated by 27.5 years since it is not an improvement to the property.But what about paving the patio and side of the garage, where it is touching the house.   

Moving forward it is best practice to obtain your own third party estimate for repairs and use that support the repair contingency or price adjustment so that the seller has no influence on the cost estimate or timeline.

What sort of property do you think you are more likely to accomplish this, low cost market or higher cost market? 

If I had contracted out the work it would've probably cost about the same due to holding costs in the winter, time off from my job and general focus I had to put into it. 2.

Deal like this need at least 25 to 30% plus closing costs.

All in, it should cost me around 35k and the mortgage is 46k at 5.75% with a payment of around 645 and HELOC I used for repairs at around 350.

If the locks have been change, you can drill out the locks and charge them both for the costs. 

Partner Driven financed the N Deerview Dr deal using its own capital, covering the $268,750 purchase price and $60,000 in renovation costs.