So any experiences y’all have had good or bad I’d like to hear.

However, if you want to focus on doing the work for this first deal, outsource the accounting would not be a bad idea (see #2).5.

Once I become the owner, I had the tenant sign a month to month lease so I had the flexibility to have them move out if they were bad tenants.

I'm leaning towards allowing the guest at this point because I don't want to interfere with the tenants' lives, these have been good tenants, and I'm always for helping out those who serve in the military, but I don't want to put me or my tenant in a bad situation or a situation that could spiral out of control.Thanks in advance!

(Please keep in mind that trying to use this if it's not legit isn't any different than parking your car in a disabled spot without having a legit disability... bad karma)

I don't think an expense ratio of 30-35% is a bad starting point before securing real financials.

That's too bad because your length of time held could have made this one an easy 1031 candidate as @?

Too bad we can't move posts to a different sub-forum after submission.

If it is just bad estimating it's on the contractor.

Shadow a couple deals of other investors and/or find a mentor at your local REIA or Real Estate Meetup.You could also take a deal to a hard money lender, whether or not they choose to lend to you should be an indication of a good or bad deal.