Protects my personal liability from my investments & protects me from rising interest rates with a locked in rate.FUTURE POSSIBLE STEPS:Portfolio Loans for PurchaseCross Collateralization Large Lines of CreditHELOC (Home Equity Line Of Credit)I still rent where I live haha.

We have several slightly higher offers (though they are conventional and FHA offers) but now we’re locked in a contract with this guy, and the last thing his agent reached out to us to say was basically his client definitely won’t be showing up to the closing.

Am I allowed to have a key for the shed they built if lease states landlord must have keys for all locks on property?

Using a similar approach to lock down what neighborhoods to invest.3.

@Michael Stokes I allow them to fill the holes but I increase the price $25-$50 a night just because the extra work/time to deal with a small stay and the extra wear on my well/water filtration systems emptying/refilling the hotub for a one nighter.Funny part is looking at my door lock history most one nighters do not show up till after 10pm and often want a late checkout and don't ask till right at checkout time.

The money you spend while vacant and fixing the damages they did before the Sheriff locked them out is Repairs & Maintenance. 

Just make sure you do very deep due diligence on the property.Make sure it's not land locked, that it's zoned as residential or commercial and not agricultural or greenbelt.

It might be worth attempting a buyout with the tenant (also has its own ordinance and set of rules to follow), and gives you much more flexibility/doesn't lock you into living in the unit for 3 years.

I just locked on to this score last week.

Here is a short list of unexpected costs that can reduce CF, or easily eliminate it altogether for years especially if the margins are thin and the property only kicks off a few hundred/mo (all of these are actual issues I've dealt with in the past few years that effected CF):  Annual Backflow Prevention Assembly Tests/Code changes requiring additional backflow prevention devices“Churn”: high vacancy and turnover rate/ tenant drama/ evictions/ turnover expensesBad PMBad tenantsHOA fee increases/special assessments (condo/townhomes especially but also MF/commercial complexes)Trash hauling/property cleanup—ghetto properties are trash magnetsCrimeTheftTenant DeathMileageToolsTenant placement: screening charges, advertising, professional photos, travel, 3D tours, etc.Property tax increase based on sales price you just paidInsurance rate increase based on a claim you made or a high number of claims in the area Trees-- maintaining trees costs more money than many people realizeAnnual Sewer ScopeAttorney feesTravel costsPest Control—We recently had the unexpected pleasure of evicting some bed bugs from a newly acquired 8 unit building.