Are you a Certified Property Manager?

However, it will not be ready until the fall, and the rent will be up to the market rate of $1,400/month at that point.I sent the notice of Non-Renewal of Lease via certified mail, as well as through the notice system in my property management portal.

Though, you do need to try to contact anyone who has an interest in the home (i.e. lenders with liens, owner on record, etc) using the addresses on file via certified mail.

@Tim Bradley It is better that you are going into the BRRRR strategy with some perspective and experience with having invested before because your expectations will naturally be more realistic.

There is economic development coming through the area so I feel good about natural appreciation.

ThanksGaren The term like-kind refers to the nature or character of the property and not to its grade or quality. 

* Are you a Certified Property Manager?

But, maybe I'll actually get certified and learn what to actually do and then I can start charging them a fee!

It’s okay to go in  at 60% ask or ARV  to get your feet wet, once you intentionally lose a few that number will naturally creep to 70-80% and maybe you find the perfect property and are willing to go in at or above ask.

This is a couple thousand $$ at risk for both of us, which I understand is the nature of the business but just wondering if there's a more creative way to avoid this?