As Chris said above, you really need to understand values on properties regardless, so starting small in your backyard is always a safer option than going nationwide right away.It is a great business though - congrats on getting started!

@Chris Seveney I was thinking of higher contractors for bigger electrical jobs or and major plumbing that may need done.

Quote from @Chris Seveney: Quote from @Anthony King: Are there any rules/regulations regarding private lending from family members?

Quote from @Chris Pelc: Quote from @Shay Sherbotseli: Hello,I am currently exploring the possibility of investing in a 3-bedroom townhouse or similar property in Pennsylvania, specifically in Montgomery County, Perkiomen, Collegeville, Norristown, Pottstown, or even Haverford.My intention is to purchase the property for rental purposes.

Quote from @Chris Lane: Some of it may be the market you're looking at.

Quote from @Chris Seveney: @Daria B.The maximum allowable non-judicial foreclosure fee for Fannie Mae in Alabama is $1,900, as of January 1, 2023.Again does not include filing costs etc but assume $3,000We have foreclosed multiple times in Alabama - it’s an easy state to foreclose in.

@Chris SeveneyI appreciate you, Chris!

Thanks,Chris

Quote from @Chris Seveney: @Joyce KimHELOC and home equity loan are not the sameEquity line of credit is a line of credit that let’s you withdraw up to specific amount and you can take less and pay interest on what you drawFor example if you had a $50k line of credit you may choose to use $20k of it and it is usually ten years where you can pay it off and draw moreA home equity loan is a second mortgage which is a fixed amount and paid off over a period of timeHELOC is better in my opinion but if you have no income it will be difficult to get approved even with the equity you haveCommon misconception people have is if you have equity you can just take it, that’s not the case the bank also wants to make sure you have the ability to repay it.Sorry, all the other posters are right. 

Thanks @Chris Seveney this brought some clarity to the documents I’ve been receiving lately.