Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.

Here are a few additional strategies that might help mitigate risk if you decide to rent the property:Hire a Strong Property Management Company: While you’ve already spoken with some PMs, consider finding one with extensive experience managing single-family rentals in Cook County specifically.

Additionally, do you have any other ideas or strategies that might help achieve his goals without incurring a tax liability?

This is common for that build time frame.

Man, just in 3 years if you have the tenant leave every time, even without the negative cashflow, that alone can cost you an additional 20 or 30k.

In addition, they are bearing the risk of you backing out of the deal and them being stuck with vacant units not bringing in rent. 4.

Here are a few ideas to explore that might help you get closer to homeownership in San Diego without selling:Cash-Out Refinance:Refinancing one or both of your El Centro properties could free up additional cash for a down payment without selling.

As JD said, the tenant must list the landlord as "additional interest" on the policy.

Additionally, some syndicators are mostly in the middle-person role of sorts; partnering with others who do the primary LOI/PSA/operation roles.

Additionally, make sure you’re familiar with local property laws and any regulations that could impact your investment.I agree with @Jason Wray that you can easily find a cash flowing deal under 200k.