Before pulling the trigger on this, read up on prohibited transactions.

But by adding discounts 3ish months out, we are getting longer lead times, so people are booking farther in advance and locking in at higher rates because we have more competitive pricing for those people that are planning further ahead.

I would recommend start going to see properties about 6 months before you are ready to pull the trigger, maybe starting with open housesand finally....

We put in almost $9ml of our own money into the deal to lock it down.

.- Buy a multi-family home - I've seen some for as low as $250k, but I'm sure there will be different deals by the time I'm ready to pull the trigger.- Take out an FHA loan for 3.5%.

What a great analogy lol Not decided on that strategy, just researching about that specific one.The main reason was because a land trust can be a co signee on a conventional loan and can help with transferring the conventional loan to an LLC later one without triggering the due on sale clause

As you talk to lenders, make sure you know the following:    1 Rate Lock Policy - If the DSCR lender doesn't rate lock for 45 days, then I'd go elsewhere.

But once we went through the process of this revision to approved action, it triggered HCD to get involved since it’s in their jurisdiction since it’s a “special occupancy park”.

As someone who just pulled the trigger a few months ago I decided to go with turnkey to mitigate my risk.

Any advice from seasoned investors would be appreciated on pulling the trigger on the first investment property.