Real estate investing has its ups and downs, but nothing could have prepared me for my rental property catching fire on the 4th of July.

Hey BP family,I am new to real estate investing but would love some experts insights so I don't get burned on my first dealThis is the property: https://www.zillow.com/homedetails/724-N-22nd-Ave-Bozeman-MT...My thoughts are my wife, 8 month old and I could live in Unit A for a year or two while we rent out Units B & C to help cover the mortgage payments until we build/buy a more desirable family ranch home with min 10+ acres which we've been looking for but have yet to find.My hesitation is I've never been a landlord and am reluctant to get in over my head with property problems while simultaneously growing an online business and being a new father.After some negotiation we counter offered 895k with a 2-1 rate buy down for 20k and the sellers have verbally accepted but since our offer expired we need to resubmit.

How many rentals are there in the area (ie could you find a good tenant or would it sit vacant for a bit?)?

@Lalania AllgeyerThe course material I took online really did cover everything that was on the exam. 

So, if in the future your actions cause an HOA to take legal action you lender will likely be notified and call the note Due on Salewhen they find out about the title transfer.If you use the property for a rental, abide by the rental percentage allowed and don't let your tenant violate the CCRs, usually on parking and number of cars.I buy in HOAs using subject to and wraps and that is what I teach my students to do, allowing for the possibility of the lender being notified.

I sold all my rental properties in Mississippi for the same reason.  

You could advise them to look into programs for emergency rental assistance.

https://www.biggerpockets.com/analysis/rentals/b4636fbb-f12f...View report*This link comes directly from our calculators, based on information input by the member who posted.

I am in escrow on my first out-of-state rental property in northern Texas and the next step in the process is to get landlord insurance.

Online resources, real estate forums, and local investor meetups can also provide valuable insights and practical advice from those who have firsthand experience with seller financing and flipping properties.