Request the tenants leave, flip to 3 bedroom, and rent to new tenants at $986If I convert from  2 BR to a 3 BR, I've calculated a payback period of 2.3 years... here's the high-level of how I came to that number:Annual Opportunity Cost:3 BR vs 2 BR Rent = $2,790My Time (expect less needy tenants) = $1,183TOTAL OPPT COST= $3,973 <-- This is a favorable numberCost to get unit ready as 3 BRTotal to flip = $7,551 (includes paint, new floors, converting basement to bedroom, etc)  2 Months lost rent = $1,510 TOTAL UPFRONT COSTS $9,061 <-- This is an unfavorable numberPayback Period =  $9,061 / $3,973 = 2.3 years (Note if I'm conservative in my nubers, this becomes 3 years)Couple more things to note, they're set up on re-occurring payments and have not missed a payment.

I’ve always done some other business or RE deal with a person before i engaged in a wholesale deal with them.

It keeps tabs on the property, and also you keep it up to par so if they ever move, it'd be easy to re-rent it. 

thats a question best researched with a RE attorney who knows tenant/landlord laws, and probably worth speaking with some local PM's in the area as well about their experience. 

The excitement and beauty of RE investing is that everything can be a risk, depending on who you ask. 

Initially when I started working in loans, the idea was to study for my RE license along the way and gain knowledge of the loan side so I’d be more informed when I became an agent.

Hi everyone. When filing your taxes as a Real Estate Profesional. What can't and what CAN you log to meet your 750 hours!?? We're buy and hold investors. So examples: my monthly trip to the apartments to sweep walk w...

THE QUESTIONS:Should Johnny get a hard money loan to purchase the home and make repairs, then re-fi 6months later to access the equity and invest?

I agree w @jay @Jay Hinrichs but want to add that I purchased a projected cash neutral re.  

Believe it's meeting this Thursday (22-Feb) at Renton Technical College. https://www.meetup.com/Fixated-On-Real-Estate/Real Estate Association of Puget Sound (REAPS): http://www.reapsweb.com/Seattle Investors Club (SIC): https://seattleinvestorsclub.com/Cascadia Investors Alliance: https://www.meetup.com/CascadiaInvestorsAlliance/Each can focus on different areas, but they're all excellent for networking with other investors and RE-focused business partners.Keep listening to the podcasts, start joining the networking events, and you'll start to define your goals and how you want to get there.