A lot of lessons learned and A LOT that needed to be done from top to bottom.

Our property had shown signs of termite damage to a structural beam during the initial inspection, and I paid for both a structural engineer (to verify the beam’s integrity was sound) and a termite inspector (to verify there was no active infestation).  

The difference between a true cash buyer and a "true cash buyer" is where the action is; make sure you drill down on that!

You need to structure the deal as follows:700k purchase 100k construction (deferred maintenace)800k total acquisition20% down consisting of two parts... 80k refinancable equity from your condo and a 80k seller note 2nd mortgage (your dad) Wrap up those big ticket deferred maintenance items right away.

You are saving up your down payment anyway, I would wait until a good 4 unit comes along. if you’re only putting down 3.5%, the difference between the down payment for a 4 unit and a duplex/triplex is not gonna be that big. 

And a court would not think highly of your paperwork because the price does not match the market. 

Dilapidated properties, train tracks, school zones, busy roads, air strips, gun clubs, flood zones, etc.My goal is always to make sure that my buyer goes into an offer with their eyes wide open and as much negative information as possible. 

If they do not have any then there is your answer  Just because a company can find you a good deal does not mean that they can get you the monthly return year after year on that property Always remember you own four walls and a roof ,they owned the business system it’s operating inside of that to give you the actual return that it was promised and that’s easier said than done if they don’t have correct policies procedures in structure Always make sure that your business model aligns with theirs to make sure that they are going to help you reach your ultimate goals well if they cannot have that conversation with you then maybe they were the wrong team to leverage your properties with

I have pictures of all the units on our website and as tenants leave I’m taking a video walking the property for my records.

A lot of my inquiries come from moms and grandmothers looking for vacations for one or two families.I also worry about things like Airbnb holding all funds until the guest checks in and a few other things.For those of you in the major vacation markets (Disney World, Pigeon Forge, Hawaii, etc.), what are your thoughts on this?