(date the rate, marry the mortgage)TLDR: home 1: House on navigable water 2/3 acre. interest 2.75% @ $288k remaining... monthly payment: $1650/mo, rents: $3000/mo, net after expenses: $500/mo and goes up to $1000 after 5 years.home 2: 7% interest @ $550k in the school district we want and nicer home.I want to time the interest rates correctly so they don't go down and prices go up and we get priced out of the market.

From my research, these turn-key STR management companies provide this full turn-key service for 20% - 30% of all the bookings.  

Lots to consider here depending on date purchased, how it was split, what is being built, and when it is placed into service.

Thanks.Previous responses provided some technical details, but I want to quickly paint the big picture.1.

I like approaching investors or realtors with a property in hand to provide value right away, and even if that one in particular doesn't work with them, they will most likely want to be kept in the loop for the next one.Networking events are another great way of connecting with investors in your area.

Hey Hakim, Sure thing, one of the main things to understand is that you have to know how ready are you to purchase the business/property, and you do that by providing all your financials to see if you have enough capital and reserves.

Ideally, properties should have separate entrances for the main living area and the ADU, providing privacy.Kitchen and bathroom facilities should be easily modified or expanded to accommodate both the main residence and rental space.

Vern,  I am in complete agreement with you about why there can't be a place on the web (Connected Investors is too busy promoting their in-house lending company Lending Tree, to be willing to provide a forum for this type of thing.

It would be greatly appreciated if anyone could provide any advice on the best steps to take and your own experiences when starting out.  

It's a lot less risky than fix & flip and provides great cash flow.