Gaining knowledge from seasoned investors and expanding your network might lead to insightful possibilities.A reasonable starting point is to have $25k in cash, but keep in mind that there may be other charges to consider, such closing fees, property management, and unforeseen maintenance.

They might offer better terms or be more flexible in such situations.Partnerships and Investors:Bring in Investors: Your friend might find investors interested in contributing capital in exchange for equity in the property.Form Partnerships: Consider forming a joint venture with a developer or another property owner who can provide the necessary capital for rebuilding.Similar Experiences and AdviceCase Studies: Researching similar cases can provide insight into how others have handled such situations.

If you're a new investor (like me), I would start with a house hack and get your feet wet.

You should be proud of this as most investors (including myself) have not achieved this goal yet!  

A positive cash flow is achieved when rental revenue surpasses other costs such as the mortgage payment, which is the goal that some investors may even pursue.All the best!

But just remember - you've been warned - start local, start small!

I'm a buy and hold investor with 2 rental properties in Warren Ohio.

I'm a local broker and investor in Sacramento.

What States are STR investors buying in right now?

Last month I warned you of the coming heat.