Also a side note, when looking at an STR investment in Austin, factor in the high annual property taxes that can get up around 2% of the appraised value of the house (ie house appraised at $500,000, pay $10k/year in property taxes)Hope this helps.

Because there is a very high chance you will never see the 7500 again and the loan wont get funded this is exactly how fake lenders work.

It's a breeze, the cash on cash return, while low in absolute terms, is crazy high (3% down + seller credits).

Hey @Dutch Marc, Given we are accountants, we cannot promote our services on BP as its against the rules.To help in your search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I highly recommend it!

Now it seems to be a different ball game with rates being so high. 

A break-even duplex in CA has the potential to have high cash flow in just a few years due to the following 1) low prop taxes increase of 2%/yr 2) low turnover due to rent caps 3) 7-10%/yr rent increases 4) better tax shieldingThe real question is whether you’ve underwritten the duplex correctly.

I highly recommend Amy Mahjoory's Raising Private Money Masterclass!

I am the type of landlord who maintain my property with high standard, not cheap with upgrades and new systems, going the extra miles to fulfill my Landlord responsibilities but I also like to enforce my bullet proof lease.

BUT this also leads to very high default rates.