What is a big lesson you've learned through your experiences?

The home is 1,841 square feet and was constructed in 2009.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

It sounds like you should bring on an established PMC as a partner to help walk you through the steps of growing instead of trying to learn everything on your own.

I purchased a SFH in probate that had a fully furnished in-law suite in the basement. I originally intended to rehab it and rent the upper 3/2 seperate from finished studio in the basement. Unfortunately I did not do ...

Are there tax implications we are unaware of?

I learned so much from these responses and it helped me to better understand the reasoning for the conventional loan not working and why the DSCR might be so high.

I'd highly encourage you to come to our next local meetup to networking and learn from others that are investing locally.

I added more cabinets in the kitchenI added a handrail to steps in the rearI had new cement poured on sidewalk, porch and drivewayI added new storm doors to all 3 doorsI added new cordless, faux wood blinds throughout home (Home Depot installed)I repainted and repaired detached garage Lessons learned?

Current Loan Balance: 100,952Interest rate: 3.75Mortgage payment + insurance/taxes: $1066Rent: $1500/monthEstimated current value: 227k Current cashflow: $369/ month, I also have a first american home warranty on it $68/month so after everything I net about $300/ month. 

They are looking to make the move to join up with the adult daughter and so their 7 year old can go to the local school district, which has good ratings.I also learned that the adult daughter is looking to move from her current apartment which is in the midst of a bed bug infestation.