I am not looking to make major improvements, but I am looking to enter and secure it.

From what I’ve seen, firms like Exeter 1031 Exchange or Asset Preservation, Inc. have solid reputations for guiding investors through the process efficiently.

First you need to learn to separate the following:Maintenance: usually things related to wear & tear or tenant damage.Repairs: usually broken items like doors & windows, caused by tenant or nature.Capital Improvements: usually expensive things that wear out: hot water tanks, furnaces, roofs, etc.The seller is correct that Repairs & Capital Improvement items should not be a factor for awhile (ALWAYS get your own inspection to confirm).

It's all about the location, you might be able to buy a cheap house, but if it's in an area with nothing but other cheap houses and in an area that is "not desirable" you're not going to make much money on it, either in improvements or rent.

And even fewer people seek to improve their ROI on BOTH the things they are not achieving and the things they are achieving.

Using an LLC and drafting an operating agreement ensures efficiency, outlines ownership, and resolves disputes.

The property has done quite well and has appreciated nicely over the last couple of years as I’ve gone through and improved things unit by unit.

Additionally, if the market conditions improve, you might have a better opportunity to refinance at a more favorable rate.5.

I like the one that requires payments to be deposited in an escrow account:New York state law requires that consumers receive a written contract for home-improvement work that exceeds $500.

After a few candid conversations, they realized they could negotiate slightly higher rents by offering small improvments..things like better loading dock access or upgrading the security features..turning a so-so cash flow into something much healthier.When you break down your family friend’s situation, it might help to consider these angles:Selling and redeploying capitla could open up opportunities in markets where cash flow is a bit juicier.