.💡 How do you keep rehab costs under control and avoid surprise expenses?

So it won't affect your credit.

Since this will be a cash buy, do I need a seasoning period for a DSCR refi?

Hello I have a client who needs to do a purchase and rehab loan on a four unit property in New Orleans.

Do your research and run some numbers, but if you can buy a 4br house, rent out the other three rooms and be left with a very small mortgage payment, you can start saving for the next one and then rinse and repeat every few years. 

How did you find this deal and how did you negotiate it?

If this will be your first rental, I would probably wait a year or so after renting it before scaling into more properties, especially if you will be traveling.

There's no workaround for bringing it in house.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

What are you doing to proactively improve your situation?