However, the LAIC has the right to turn around and make sure that any costs paid by the LAIC that should have been handled by the property owner are reimbursed by the property owner—ultimately through the courts, if necessary."

Look for undervalued properties.Network: Connect with local real estate agents, contractors, and other investors for insights and deals.Analyze Properties: Use the 1% rule to evaluate potential properties (monthly rent should be at least 1% of the total investment).Secure Financing: Explore different financing options like conventional loans, hard money loans, or private lenders.As for timing, if you can handle the extra responsibility, starting now could give you a head start.

I will continue to do my research and try to find a CPA that handles Texas and has a lower minimum I think.

Should I be looking at markets with a lower entry cost? 

If they fail to handle it, I will do it and charge them for my time.Another change I made was to add a no-deposit option to all my residential rentals.

His focus was on location, tenant demand, and ensuring the property could handle at least a 1.25 DSCR even in a downturn.

This is a personal choice and depends largely on your risk tolerance level and the current demand for rentals in your area.Vehicle Repossessions: Having a vehicle repossessed is strong indication that a tenant cannot handle their money very well.

(His profit is in the entry fee) He owes 3 months missed payments and I offered to catch up the arrears, bring the loan current, and take ownership.I myself own and operate 13 units since 2017, and I’d say I’m a good operator.Anyways, the issue is that now the bank/owner has been notified of non payment, and while the seller is telling me everything’s fine between him and the person on the note and all, I know that the bank has eyes on this account now. 

. $1100 for the unit ....do you have an outlet already available that will handle the extra amp draw?

Make sure to maintain a cash reserve (3-6 months of expenses) to handle unexpected repairs or vacancies.It’s smart to consider the “what-ifs,” but don’t let them hold you back.