Regardless- let's assume you rent it out for 2400.Maintenance- I like to set aside 5% minimum- and that's if the place is a new construction or fresh rehab.Capex- prorate the cost to repair your roof, boiler etc..

I am fresh as it gets to real estate investing but I'm more than willing to make this a obsession for success .

As a fresh-faced investor who is looking to purchase her first property by the end of the year, I'm wondering if some of you more experienced folks would mind sharing some wisdom on REI groups.

It is another new day, a fresh start.

Does that immediately trigger a due on sale clause or is there a way to legally help her get some equity out of the home without losing the property as an investment, having to find a fresh mortgage or pay taxes on the full value of the home (i.e. perhaps only pay taxes on the 1/8 or 1/10 share that I buy out). 

Tear apart all the pipes and start fresh.  

I do not plan to actually begin operating out of the LLC until Jan 1 2017 because I figure it will simply be easier to begin fresh with the Calendar year.  

A thorough de-junking and some fresh paint would go a long ways. 

The house would likely need minor work to get it into rental condition (fresh paint/cleaning carpet/etc) which I would do if I sell house regardless.

Because time is important, we would prefer to buy someone's blue prints and tweak those vs starting fresh with an architect.