I'm a real estate agent (and soon to be REALTOR after my induction on Dec. 6th).

Same question goes for applicants who pass the initial application phase but fail the criminal/credit/eviction screen.Thank you.Joe Butcher, Dallas TX

I own 8 properties and we've been looking to leverage them for a few months now, and are finally in the ending phases of getting a LOC to take out equity for some of them.Anyways, part of the bank's process was doing a spreadsheet on all the properties and calculating insurance, taxes, repairs and vacancies.I have my own spreadsheet with our properties, however I was kind of surprised that their requirement was 25% of gross rents towards repairs.

Then the artists come in followed at some point much later by mobs of yoga types pushing strollers.I just looked at that house on Hallock it went under contract, during the first look phase.

I would personally want to obtain contractor bids during an inspection phase to insure it would be closer to the $40K rehab.  

I need help with acquiring rental property in: (Tampa Bay Area) Gibsonton, FL-Phase 1 build home (Highland Homes) Their asking price:$195K.

I'm in the learning phase now, also trying to learn this market.Good luck, and keep us posted!

If you're in it for the long term, it won't phase you.  

Here are the basic details of the project:Closed on the deal on December 18th of last yearLocation: Plainville, ConnecticutPurchase price: $120,000.00Rehab amount: $22,000ARV: $210,000Property type: 3-familyTaxes: $3830Sq ft: 2534Unit breakdown: All 2 BR unitsProjected rent roll: 1st floor $1100, 2nd floor $1000, 3rd floor $875 = $2975 totalArea: Solid B area (largely a solid residential middle class town, only 1 other 3-family has sold in this town in the last 2+ years)Exit strategy: BRRRR project, the plan is to cash out refiWe are a little delayed in posting this diary so in the coming posts we will detail what went into purchasing the property and where we are in the rehab phase of the project.

We are also in the oil and gas industry and also in the education phase, as we heard a great guy say.