Overall I like the program but agree people have too high of expectations and think it's a magical tool that solves every problem.My favorite is when the annual inspection comes through with such detailed line items like "fix door".Literally doesn't tell you what needs to be fixed, what door, etc.

Just on the business level for landlords to be as specific as possible with their requirements and give detailed line item dispositions. 

Hi,I am new to RE Investing and would like to check if following numbers makes sense or am I missing anything:Property Details : 3/2 TownhomeIncome: $2800Expenses = $2700 (approx)Here is the break down.Mortgage + Tax +Insurance = 1800HOA = 265Vacancy = 5 % per month = 140Repairs + Cap Ex = 200PM = 10% per month = 280Total Cash Flow : $100I can get greater cash flow if I manage myself but I am not planning to do it.I am thinking of getting HELOC and buy a new primary residence and rent this one.

It may be an obvious answer, but I wanted to hear about some specific examples where having a license helped more.

After thinking on it a bit more, I am going to look into the feasibility of a rent by room strategy to increase the cash flow and speak with some lenders to learn more details about what I'd need to provide to be able to consider these rents in my DTI calculation when I am qualifying for the next mortgage.

Knowing the lease details and tenant situation is crucial for planning your move and managing the property effectively.Overall, your plan seems like a solid approach to kickstart your real estate investment journey.

Here's a simplified and effective approach: Gather Information: Obtain details about the property, including its purchase price, estimated rental income, expenses (such as property taxes, insurance, maintenance costs, and property management fees), vacancy rate, and any financing terms (e.g., interest rate, down payment, loan term).Calculate Gross Rental Income: Determine the total potential rental income the property could generate annually.

Hi Michael - It dpeends on what specifically you are looking to do.

But investing outside of your state has its own set of difficulties as well, such managing remotely and not being familiar with the specifics of the local market.Make a Plan for Property Management: If you decide to invest in rental properties, decide if you'll handle them yourself or by working with a management company.

While the general principles regarding LLC ownership, asset protection, and taxation may apply universally, specific legal requirements, regulations, and tax implications can differ from state to state.Good luck!