That's essential. 

Essentially the leaky bucket strategy. 

A house hack is like that beginner run (but BRRR'ing, wholesaling, and out-of-state investing are more like double black diamonds).With a house hack, you can make money while learning the essential skills you'll need to succeed in RE investing (e.g.; how to analyze properties, how to find an investor-friendly agent, how to engage in a strong due diligence process, how to screen tenants, how to manage the property, how to build a network of contractors, plumbers, electricians and other pros, how to manage the book keeping of the property, etc., etc., etc.

BRRRR seems to be the best bang-for-my-buck (if done right) since you can essentially recycle your capital over and over.

Cap rate = net operating income divided by the asset value or the rate of return of the asset if you were to buy fully in cash.Market cap rate = the average cap rate you should expect in that given market across similar propertiesA market cap is essentially a proxy for how competitive a local market is.

What I did to break the water was a house hack, and I’d suggest it to you as well to start as it really lowers your risk and helps learn a lot of essential skills.

So what I’m thinking of doing is to get a carpet repair company out there to restretch the carpet since she stated that it’s a safety concern and then I will get a new tub, surround and plumbing fixtures because it actually could become a problem down the road.

Depending on the property you are investing in, property management can be essential to the success of your investment.

Essentially spreading out the gain...if there is a gain to spread out.  

This may be a simple question, but does that  essentially mean 1% for each month his money is tied up?