What kinds of services do you need from your real estate attorney?

I have a lender offering 75-80k ltv.

They drew me in with their offer of being able to pull out as much as 95% of my primary property's value in a HELOC.

Call Customer Service ASAP.Mike

So in the words of Ned Carey and my favorite post response of all time; "It depends".So first let's start with it will probably take you 4-6 months to research, find, get qualified, get an accepted offer and close on a property.

Let's explore some effective approaches for managing investment properties:With a Property Manager:Screening and Selecting Tenants: Entrust your property manager to handle tenant screening, background checks, and selection, ensuring reliable renters for your investment.Rent Collection: Property managers can ensure timely rent collection and handle any late payments or lease violations professionally.Maintenance and Repairs: Delegate routine maintenance tasks and repairs to your property manager, who can coordinate with contractors and vendors to keep your property in top condition.Tenant Relations: Property managers serve as the primary point of contact for tenants, addressing their concerns and ensuring a positive rental experience.Lease Enforcement and Evictions: Trust your property manager to enforce lease terms and handle the eviction process if necessary, following legal procedures.Financial Management: Property managers can handle financial tasks such as budgeting, accounting, and financial reporting, providing you with regular updates on property performance.Without a Property Manager:Self-Management: Take on the responsibility of managing the property yourself, handling tasks such as advertising vacancies, screening tenants, and collecting rent.Outsourcing Specific Tasks: While not hiring a full-time property manager, consider outsourcing tasks like maintenance and repairs to trusted contractors or service providers.Utilizing Technology: Leverage property management software and online platforms to streamline processes such as rent collection, lease management, and maintenance requests.Establishing Clear Policies: Set clear policies and procedures for tenants regarding rent payments, maintenance requests, and lease terms to minimize conflicts and misunderstandings.Regular Inspections: Conduct regular inspections of the property to identify maintenance issues or lease violations early on and address them promptly.Building Relationships: Maintain open communication and positive relationships with tenants to foster a sense of community and encourage better care of the property.Whether you choose to hire a property manager or manage the property yourself, effective communication, attention to detail, and a proactive approach to property management are key to maximizing returns and maintaining the value of your investment.

Even if rates rise slightly, securing a historically low rate now offers financial stability and savings compared to past decades.

Therefore you won't need to qualify for REPS status. https://www.therealestatecpa.c...Here's the section which is most relevant to STRs of 7days or less (or 30 days or less with substantial services):"If you rent a property to customers with an average stay of 7 days or less, on average, this is a short-term rental.

Hey Andrew, conventional loans offer lower interest rates but they require 20% down payment.

The seller only knows what you/your agent told and/or given them ie the pre-approval included in the offer.