Planning, bidding, demolishing, rebuilding, etc…. and time it to be finished when the “inherited lease” is up.

Be sure to include in your math the loss of the section 121 exclusion on your $50 gain in value.BP members often ask if their former primary residence makes a good rental and in most cases it does not (unless pre-planned as such).

Installment plans don’t work.  

Hard money, creative financing, or traditional financing should be viewed as different tools that you can use; try not to worry too much about finding one, singular way to finance every deal.For example, if you are buying an off-market deal from a family member, you may want to see if you can use traditional financing or creative financing since there's no competition and you'll get the most attractive/flexible terms.On the other hand, if you see a newly listed deal on the MLS, you may want to look at hard money since it can fund quickly like cash.Hard money loans are more expensive so you'll want to plan your exit before you get in whether that be refinancing into a long term note or selling the property.Hope this helps!

I reached out 2/1/24 to see if they planned on moving at end of lease and they said they would be staying through Fall 2024. 

We should plan for this.Gumballs aren’t 1 cent anymore Boomer.Don’t Get Screwed by your Contractor.** Punchy Sick Guy Warning!

Thanks for the response. talk to the commercial department... they typically don't have limits.

Quote from @Jonathan Garcia: Well technically what I use is irrelevant considering I'm switching.I have 174 doors 63 of which are self managed.I don't have growth plans as I'm in the stage of just natural progression due to years of investing.As far as the software I want to collect rent, Fees, Maintenance request, Reports, and a system that can handle as many doors as possible with no restrictions.  

I will keep that in mind as I develop my business plan and team.  

For STRs, the typical options that you'll see utilized are conventional, second home (if you plan to occupy the property for more than 14 days but less than 180), or DSCR.