The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.In the 1.21 acres there is a main single family home (4 br) which was divided in two sections one of which is being rented.

Usually, we're looking at credit scores, Loan to Value Ratio,  & experience level, for the rates and terms.

Wholesaling is a great way to get started, and networking is key to success.

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

We are considering investing in Houston as foreign investors (from Belgium), our goal is to find and start with a long-term rental single or multi family home. 

What’s the current loan balance and terms with the hard money lender?

With patience and a solid plan, you’ll be on your way to building a successful portfolio.Good luck!

Really depends on what they are looking for as well as long term plans.

In terms of using BP - I highly recommend setting up some "keywords" in your settings so that you can get alerted to discussions that talk about "CPA" "Bookkeeper" or "Bookkeeping" and related terms!