.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

Hey @Steve Johnson, I found your website but it does not explicitly mention HVAC and I actually was about to ask on the forum if anyone had a recommendation for a furnace repair job... not a big job, one unit in a duplex not working properly.

@Maria JeanetteHere are some of the downsides of putting real estate into a self directed IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds.

The seller wants what he wants OR the property won't qualify for financing because of repairs.

In MA, tenants generally have 30 days to pay repair costs.

If we find damages, we withhold the necessary amount from the security deposit to cover repair or replacement costs.

In most cases, 6-12 months is a more realistic timeline, especially for larger rehabs or when you’re trying to maximize the property’s after-repair value.

Was able to negotiate some seller concessions based on a comprehensive property inspection and several needed repairs.

He started with me just after retirement and I recommend you look for a handyman who is retired because they are typically less expensive and as my guy likes to say, every day is a Saturday and that means they can get repairs done quickly.

Painting walls, updating fixtures, or handling minor repairs yourself can save thousands upfront.Consider Your Exit Strategy: You’ve got the right idea;house hack for 1-2 years, then convert the property into a long-term rental.