When you reach out to the city, you should inquire about the specific permits needed for renovating a burned home, any special requirements or restrictions, and any inspections that may need to be done during the renovation process.

There are closing costs, loan origination fees and Homeowner's Insurance to add into the number, You will get better detail from whomever is lending the money.

Cody,There was a time when portfolio loans were definitely the way to go, specifically when rates were at rock bottom and you could bundle as many of them at that rate as possible.

It sounds like you already have or are looking for a very specific property type (studio or 1/1).

What specific questions are you looking to confirm? 

If you have any specific questions feel free to reach out I always enjoy talking REI!  

I’ll attach a link to a page that describes this in detail as there’s some things to note. https://www.realtymogul.com/knowledge-center/article/what-is...3) who’s your ideal tenant?

There is obviously a formal lease, and we also supplement with a room mate agreement which outlines the more specific things like overnight guests and expectations in dispute resolutions/ cleaning/ care for the home and appliances, etc.I haven't received one formal "LL request" email yet, other than a formal 30 day notice in the event of a move out, which is usually after they've come talked to me in person about it to begin with. if there's an issue, it tends to be pretty limited to "hey, we have this shower rod falling off"... which im usually here to deal with (and tbh most of the time they like to fix it up with me), and it doesnt need to turn into a big thing. as for keys, i have the house on a yale smart lock, so 'handing over keys' is just official move out, walkthrough of the room for damages, and then I can delete their access code and access to the smart home systems without having to re-key the house. 

*I am providing these details because the question of our abilities as landlords has been raised. 

It is landlord-friendly, and specific pockets have gone upwards of 2-4x in the last 5-10 years.