Get professional tax advice, but I think it would save you a bundle to live in it, refi to get your money out, and get homeowner tax break when/if you sell.

This tip will save you from financial alot of stress in which I endured and cut my teeth on.

.)* Reserves - savings from each rent payment for future expensesIf you wanted to use more like a PM, you could set up an online form for tenants to input requests and include attachments and track maintenance through it.Hope that helps.PS - I still use Excel for projections/modeling

A lot of that occurred after the recession or in very rough markets, or extremely rural markets.Now if you are talking a normal market, and an investor who is not already independently wealthy from some other business and has a ton of cash to spend, I imagine the podcast episode would sound like this:Host - Tell me how you got started.Guest - I saved up cash until I had enough for my first investment.

We were able to save about $44k because we negotiated the price down.

So, hopefully it almost never exceeds that and saves you the hassle of dealing with collecting a separate payment for the electric bill.

Read read read save save save it'll build confidence to.. have some money put aside and then pull the trigger...

Do I use a home  equity line of credit that I have on another rental at 6%  or do I use my  saving earning 1.75%?

Although I am an infant at this game, I have a lot of beliefs and diet tips to maximize your brains potential and your bodies health.1.)

Or will I just have to save for a 10-20% down payment for my next investment?