I would imagine that once you set up a payment plan with them, they will turn on the water for the plumbers to do what they need to do.Not sure on the regulations on this but Id also see taking the tenant to court for the balance due on the water bill.Best of luck!

Just got my first investment property under contract and it's time to get myself set up to manage the rental business well! 

You can make more if you self manage, but that takes time to set up and there can be a learning curve that costs money.Our agents are well versed in providing full financial breakdowns of every property they look at.  

To have a strategy in place on how to set up times for end buyers to walk the property and have a strategy for how the winning bid will be accepted.

The mortgage from the cash out is the Lien and can be set up in an LLC or vested in your name.DSCR is great and offers 30 year fixed, 5/6 ARM even a 40 Year I/O Interest Only fixed for the first ten (10) years.Much better than having a smaller Heloc $20K+ which will have a higher rate and a shorter amortization.

Typically: Pros: - Fully passive- Equity growth (hopefully) - Smooth process Cons: - No control- When they liquidate, you liquidate and need to 1031 again (usually they have other funds set up, however) - Make sure debt is rolled over correctly Hope this is helpful!

I'm asking specifically because I am thinking about throwing a treadmill or elliptical machine in the living room if the person wants to exercise a little while they're there.The unit isn't huge (around 1k sq feet) and it will probably look tacky, but I was wondering if other people have found value in providing some simple exercise equipment, even if it seems out of place.Hi Brandon, exercise equipment can be a great differentiator, but I'd suggest a compact setup in a dedicated corner rather than dominating the living room.

The reason for this is that existing loan guidelines are set up to favor people buying their primary home.

Especially if you’re interested in finding off-market gems.About your first few questions when it comes to bank accounts and loans, there’s no special “land flipping” bank account, but you want one set up specifically for your real estate activity.

If there are things set up in the back to sell, that's a bad sign.