Establish a strong financial strategy that includes budgeting, various financing possibilities, risk assessment, and backup plans.

Thanks for the tip, it is actually on my to do list, I heard REIA talked about on the podcast and plan on searching for one in Utah.

I dont plan on building anything on the property, if and when, it gets rezoned.

Do you plan on investing locally?

@Candi Kham,I recommend finding an accountant that specializes in real estate taxation and financial planning.

Value was added through unit rehab and amenities, with more improvements planned.

If both of you are working full-time, you will not get REP status, and not in any way the way you have it planned.

The situation resolved itself because they decided to move out, and as a precaution I took up the new flooring, installed a vapor barrier, and installed new flooring on top (painful since I had installed it all a year before, but in the end it really just came out to a few months profit).

All has been going as planned until today.

Hi, Couple of questions:1) Do you plan to refinance in the future?