- Based on the certification requirements, it seems that becoming a MLO is fairly simple process even if you've never worked in the industry before.

What's your process and requirements for screening tenants?

You'll find a way better ROI with a wholesale if you can find one that doesn't require a ton of rehab 

>I keep hearing examples about paying contractors $15k for a rehab that adds $40k of value, and similar numbers, which seems highly unlikely to meMy requirement is the value add has to add value at least twice the cost of the value add with a minimum add of $50k.  

Hi Rose- Few things to note about buying an investment property.1) Expect to be putting down 25%, as this is most lender's required downpayment on "investment" properties.2) You likely won't be cashflow positive unless you are putting >50% down, OR are buying in a C-class or worse neighborhood.3) Starting out with a condo or townhouse could be a great idea if you're just looking to get your feet wet with landlording- It is less maintenance than SFH or MFH, and you will gain invaluable experience managing a tenant.Aside from the financial challenges, I think it's great that you have the mindset to grow your portfolio.

I am not.What I don't like about midwest housing is the winter, HVAC requirement , city and theft.

Now i have decided to take a lot of things in my hand and also removing the PMC from many of my properties that have good tenants in Cabot area and Conway area and do not require much management and only keep them for inner city NLR type properties that have been veey challenging to manage unless it is section 8.  

You don't need to tell them your address just say if I were to do this does it require a permit? 

You can’t add value to stocks, they don't cash flow, they can’t be insured, no depreciation for taxes and so on.There are RMD requirements on traditional retirement accounts which makes it difficult to plan to pass on to children.

Also, we explored the option to do a boundary-line adjustment and compensate the neighbor for it, but he has a grandfathered clause in that allows him to build on the lot without meeting the new city requirements.