I got a structural engineer to look at the house and he said I would need to take out the floors from the top down redoing all the floors and most of the crawlspace and that would likely cost about 20k.

I have been trying to gather as much information as possible and make sure that I don't make any costly mistakes right off the bat.

We're also getting some pretty sweet deals on new construction with closing cost incentives.

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.

Hello, I currently operate a rooming house, and the insurance cost is going up every year, and it is getting ridiculous.

The cost of entry is low while the cash flow is high

I am about to close on my first STR in Panama City Beach, and would like to try and get people in there for the winter months to help cover the costs and lessen the maintenance burden. 

But, it also means more work in managing, tricky loan processes, higher start-up costs, and the risk of market changes.Lubbock, with its high need for rentals and low-cost living, is a top spot for duplex buyers.

Operating costs are known and everything is new, so reserve levels are usually tiny as there is a long time to build them up before they need to be tapped. 

Now, consider some solutions: submetering is an option, allowing for individual usage tracking, but be cautious about upfront installation costs and regulations.