Hello, BP community!

Here's my situation, I was going to start a position as a project engineer this upcoming Monday with an annual salary of $72,000. With that income and currently no debt I was able to get pre-ap...

If you are able to make cash flow on the investment and have it pay for itself in the time of owning it, then it may make sense.

Providing an update on this as we ended purchasing a house with these circumstances are are considering doing it again and thought it might be helpful to share the experience and how the concerns I noted at the time were addressed.Our scenario - Purchased a SFH in CA for significant price reduction with "free" rent to seller's brother for 3 years.1.

If you wait for an emergency to happen it is the most expensive time to deal with the issue.

The after auction bid process may have given you time to do a good property inspection ... or maybe you live in the property now.Sorry you're in this situation!

If you put it out there asking for a 3-5 year lease with a small business or startup in your mind, but H&R Block or Supercuts comes along asking for a 10 year NNN (& it's corporate) and agrees to the rent amount you requested, there's no reason not to entertain that, you got better than what you were expecting (there's a reason NNN properties, or ones with a few NNN tenants sprinkled in that are national chains, often sell for lower cap rates), it's not like taxes or hair cuts are going obsolete any time soon. 

That said, in searching for my next property I am finding a hard time wanting to do another hard money loan.

It will teach you the industry, the buying/selling process, how to deal with contractors, scheduling, budgeting, etc. 

After everything was fixed and they listed the unit, apparently they claimed that I was not allowed to have any understanding of who would be renting my home due to potential bias and discrimination (this is the first time I have not been able to view applicants general profile (credit score/occupation(removing any identity markers)), but fine, I let them choose the tenant and so far there hasn't been any issues.

You should consider having a sit down with the tenant and discuss whether they will be able to pay on time.