Trying to figure out a good formula to use when buying a rental property? I know income-expenses. But what are some other expenses or things I should consider or look out for?

Looking for some advice! I currently have a Single Family 4 bedroom 2 bathroom house in Hastings, MN. I purchased the house 10 months ago. I did some cosmetic updates to the house (granite countertops, new Stainless S...

Hello BP members,I closed on a property yesterday and when I went to the house today I found house guests of the previous owner still in the house.  The owner has moved out, and these individuals told me that they wer...

hi!! I'm currently wanting to rent a house out. (First timer) The repairs I want to do are very simple especially since my budget is going to tight. My question is when I bought my house the inspector requested that I...

Hi BP!I just finished redoing all the flooring in my house, as I am quarantined and bored out of my mind. I’m thinking I should just paint the cabinets too. I can’t afford new ones so painting is the next best solutio...

Hello all,I once again call upon the collective input of the BP community for my latest project.I plan on completely renovating the downstairs unit in a duplex we own. In my opinion the floor plan is terrible and the...

Hello, I'm developing a business plan for my REI and I'm wondering what credit score do most people use to determine potential tenants? 780,740,720, 550???? Is the score or the record what concerns landlors most?I pla...

My tenant is not communicating to me about the rent - It is late by 10 days and so far have been sending polite emails & text once every other day.I do not want drama, and want to take the next step. I would like ...

A lot has happened since my last post. I am not going to go into the details of the new circumstances, but long story short I now live in the Milwaukee area for work. It is very random how things happen but everything...

So I have a slightly complicated deal that I'd like to get your advice on if it seems doable.  I'm purchasing a 2 unit building from family members (there are 3 owners who were given the property in a revocable trust ...