All Forum Posts by: Zachary Ray

You could charge a Non-refundable fee upfront that equals up to one month's rent. If you do this you don't have to worry about tracking the security deposit and you also get that money up front if early issues arise. Worse case you can make a damage claim at the end of the term if anything pops up. 

This sounds like a section 8 inspection to clear the house in order to rent out. The housing authority performs their own inspections prior to allowing home owners to receive payment from them. What they are looking for is if the house is in living condition. Just repair what is asked of you which is most likely a few small issues. I wouldn't worry too much about it. 

I managed some properties in that area and Riviera Beach. Very rough. You will get in influx of renters on GoSection8, just be sure to screen them through your standards even though the housing authority has to in order for them to get the vouchers in the first place. Mr. White is right, be safe in those areas and tell your maintenance team to keep their tools locked up while visiting sites. The beauty is the extra cash flow but just know their will be more headaches. 

I'm in my 20's and i'm experiencing similar issues. It really comes down to if you prefer to start smaller or get into multi family properties. Smaller deals you can get FHA financing and move every year and build up gradually. With multi's you have to bite the bullet and raise 20-25 percent down. This doesn't have to be your money but banks will want this equity injection up front.