We had the seller cover all closing costs, pushed out closing 60 days, and were able to use that to cover all closing costs and do a rate buy down for a year.

It lists the tenant(s) and you as insureds.So at lease closing you state, we require tenant insurance, did you bring proof?

Crimes data, etc. does not come even close to telling the real story about reality on the ground.

We used a mortgage broker to get a reasonable deal on rates, then did the rehab with locals, managed by us. from home and on site. close to breaking even on a month to month basis even with Covid cancellations and such.

It also can get challenging to set a price now to possibly buy in the future that the owner and you will feel is fair (with markets still appreciating at a healthy pace).You can also keep your eyes open for a seller willing and able to do a land contract with you (but there usually would want much more money down and likely want a full pay off in a few years, but can see what you can negotiate on terms).I agree nothing illegal about options/option fees in WI to my knowledge, but generally seem much less frequently used in single residential transactions than commercial transactions where due diligence and closing timelines may be very drawn out.

I am about to close on a single fam home in north Austin that I plan to rent.

In a few short years I could likely move to areas where the median home price is around $100K and likely get fairly close to retirement (although I don't want to).Although you may not cash flow, I recommend starting with house hacking.

Account Closed I would also advise to raise the rent a little each year but not enough to make then upset or run away.

Account Closed I was a constulant in this industry for over a decade, but I work for a corporation now.

Hello,I am in the closing process on my first rental property duplex.