I asked him what the most important piece of advice he could give a new investor and he told me to keep adequate cash reserves!

I've since found out that US Bank will go to 6 financed properties, at least in my area, and I have a loan in process with them.Here's a few more pieces of info I've picked up lately:If you want to use any of the rental income for qualifying in debt ratio calcs, you'll need the following with US Bank (they follow Freddie Mac guidelines, I believe Fannie Mae is very similar so this should be generally accurate across the board):* 2 years experience owning 1-4 unit properties as documented on Sch.

I believe in California, if an investor sells a piece of property, the closing agent, aka Escrow, has to withhold 3 1/3% of the purchase price, UNLESS you are a Corp.

I would have installed a new piece of plywood and vinyled it over at the sink base in the time it took to ask the question. 

Throw in some pointy pieces of white-painted wood and you've got the American dream. 

There is nothing you could possibly write on a piece of paper that convinces someone that they want to sell their home (except of course a ridiculously high offer). 

@Kelly Beasley just make sure you check the regulations on the Airbnb piece you’re running.

They're also making steps to protect hosts in case of emergency, which makes sense since we're the ones with a piece of real property on the line. 

Those that have them get a premium, but that also typically comes with a wide assortment of improvements in general, so hard to compare the master suite as a standalone piece.

Give it to some foundation that will put my name on a piece of granite where birds can crap and kids can parkour?