Secondly thank you for posting that reminder and reality check for us all.I have to admit, I have a 4 family with washer/dryer hookups in the basement for each tenant and I know several tenants do not clean the lint out of the dryer regularly like they should.

This property is an investment property, and already has a tenant in it paying 700$.Since I purchased it with a short term lender, I'm looking to quickly get it refinanced with a regular bank, lower interest 30 years fixed.

I personally think that the deals that get bragged about here on this forum with regularity are either exaggerated, or just make it seam like the deal of the century is sitting on every corner because people are just simply not going to share lackluster stories.

@Jon Holdman FYI because I thought you'd be interested: I have heard it regularly called "open escrow" in Texas as well, at least among local investors in Austin

So, its no worse than a regular W2 job.What is worse is that because you're self-employed, you have to play both halves of the Social Security taxes.

You need to have an area that is used 100% regularly and exclusively for business.

I'll update this thread as the loan goes through process.

Some of these sites look shady so I'm looking to chat with someone people who use these sites regularly.

He takes 5% every year from the rental and is looking after all communications with the tenants from finding to renting out, to paying regular visits to look after the property, and to act on my behalf in disputes.

The mailing address has also been updated.