I would say it is on life support because after refi the negative cash flow necessitates extra reserves.

Actually I just asked the bank what would be the rate to buy another property, they told me the rate is now 9 to 9.25% which seems outrageous.

This is the most important thing you have control over.2) Use more leverage/debt to buy real estate.

Most people wont go that extra step.Oh, and by the way, don't send beautiful well designed post cards.

Bottom line, really do your homework before you buy an Orlando condo (but don't necessarily write off all condos in our market).

Hope all is well, I am looking to Take a Job in a different City And Looking At Housing an Came Across a Home that is for sale. The home has had many renovations done as far as flooring and kitchen, but the Main Bedro...

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

You could also house hack and do MTR by buying a duplex and live in one of the units and MTR the other unit. 

I understand that reading is valuable, which is why I'm curious to know which book you would recommend for a beginner like me to start with.I have yet to buy my first property but my goal is to house hack every year,  while buying and renting properties to hold long-term until my portfolio brings more cashflow than my W-2 job.

The facility is underperforming and it should be a good opportunity to buy it while the price is "low" (asking $40 million, with a solar farm that is currently being installed) before the "Silver Tsunami" hits over the next few years.