If the inexperienced investor knew how much work, effort, time, analysis, negotiation, organization, capital, and knowledge it takes to successfully find, identify, evaluate, and close on a property that fits the criteria that gurus falsely claim they see 100’s of every day, 99% of them would abandon their real estate dreams” and pursue ostrich farms, mink breeding, or setting up a “down line” to sell condensed cleaning products that their “upline” has an exclusive distributorship on for the southwestern quadrant of Bisbee, Arizona.  

as mentioned above i would find a househack property in need to cosmetic upgrades that has below market rents. make the necessary upgrades (ie. appliances, flooring, paint, laundry, fixtures) allowing yourself to bring the property up to market rent standards and increasing the rent.I'm not too familiar with the market/properties in MI but in central MA we have a lot of triple deckers that are 100+ years old.

Hello John,My name is Lance, I am an out of state investor, I have a rental house in Irving that needs flooring replace, currently they are laminate planks. 

I'm willing to pay for the full year in advance.ME: I'm sorry, but we clearly said in our marketing that this third-floor apartment has a no-pet policy.

When we pointed it out to Hilany, she said that was due to getting people over there, coordinating assemblers, setting up the furniture, cleaning up and throwing away the material, etc.

I usually spend my time, if the seller is present, keeping him/her out of the way if needed, pumping tenants for info, taking measurements for room sizes and drawing floor plans with doors and windows and noting appliances and taking pictures.We look for value add properties that are in decent structural and mechanical condition (except for one deal that we got really cheap).

& different parts of the asset can be depreciated on different schedules.To find out the useful lifespan of each component, you do a cost segregation study to analyze all of the parts.The raw land can't be depreciated so you start by giving that a value first.But other items can be depreciated on a quicker timeline.A roof, road, sidewalk, fencing, walls, gates, doors, latches, flooring, air conditioners, pavers, curbing, landscaping, etc.The IRS has a depreciation schedule for each type.Some parts are 5 yrs.

This tool lets you clean up and remove objects from photos.

Spoke to our lawyer, posted the necessary documents to confirm it was abandoned property and went on to have it cleaned and a Section 8 tenant moved in.My question is, I hear everyone talk about cash for keys, cash for keys, cash for keys.

New kitchen, countertops, appliances, flooring, demo, new bathrooms, paint, etc.