No landlord head aches, take the money and buy another property to avoid the capital gains and flip again. 500x12 = 6000 , it would take 10 years of rental income with no issues or surprise repair bills, to get that amount of cash out.

I would avoid paying the buying expense of the house and getting a loan for the purchase price of the house, limiting some holding expenses.Then I would fund and coordinate the rehab costs (construction loan, hard/private money) and use draws for the construction costs as the work was completed.

I've been doing a lot of research to try and avoid this post but I'm feeling I really need some more opinions.Thanks!!

If you do decide to allow a 4th car to keep things fair I would say the 4th is open FCFS to avoid others complaining that the new tenant gets 2 when they only get 1.  

My father in law owns a lake house in Louisiana that they do not use anymore. Obviously it’s a good time to sell and he’s thinking he can get $650k. He built it 15 years ago and honestly doesn’t remember what it cost ...

Yeah it can help you avoid a disaster but I use it to renegotiate with he seller.  

I know everyone's risk tolerance is different but would it be best to avoid and start with something more simple?

Tried copying and pasting to avoid errors as well as typed it out several times myself.

Hello all, This is my first venture into REI and I'm seeking wisdom about potential pitfalls/things to know or avoid in this scenario.

Quick takeaways to avoid this pain in the future:(A) Add strict language to your lease regarding unauthorized occupants, such as:6.