4-Plex details: -currently occupied-estimated sale price 265k-ARV 400k, and 4k/mth in rentBackground on me: -I have an LLC-I own 4 single family rentals-each has around 70k + in equity-all cash flow well -credit is 800+ with adequate income.

Your lender just needs to wire adequate funds to close.

It may not be worth it if your long term rent and cash flow are adequate.

For non-primary residences, they have to follow all of the following rules to receive a permit: - the property must be a minimum of one (1) acre in size (designed as a precaution to disturbances)- The building standards of the underlying zone district must be met - Adequate parking is provided - Defensible Space requirements are met - Valid water and sanitation must be demonstrated - No more than five (5) bedrooms are in the dwelling As time goes on, they continue to become more strict on the rules listed above here, and are actively regulating it.

This is a new underwriting guideline of the insurance companies because they haven’t been profitable and must raise the rates and lower the risk factors in order to comply with state regulations on adequate reserves and future solvency.  

The subtract off selling costs which will get you to near what you paid for the property (which will net you a small amount after paying off the loan and the missed payments).Before investing in next RE 1) get you finances in order 2) build up adequate reserves 3) learn to analyze the numbers better.  

Due to high demand, many investors in Austin are finding they need to adjust their approach a bit to make the numbers work.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.

I would really encourage you to talk to your CPA to ensure you meet material participation tests and are adequately documented.

Contrast this with someone that has adequate umbrella policy.  

Piggybacking off of #3, you will receive favorable scheduling and complete your projects quicker.If you are wondering if you have adequate site cleaning built into your construction budgets ask yourself these questions: 1.