that's for a few reasons - one is that it just costs money to transact in the form of closing costs, which can be substantial; two is that the first few years of ownership are typically a stabilization period, in which the owner is putting money into the property; and a third is that interest rates remain high, making cash flow more challenging anywhere.calculations that show you "cash flow" in the first month or year or even first few years just ignore all of this and pretend that any proceeds over the mortgage are cash flow, when they aren't.i say this not to discourage you but because we see so many posts in the forums from folks in HCOL areas like CA whose expectations are not properly set. 

The day you get clearance from the inspector for your cfo, post proper notice to the tenant for eviction. 

Hidden risks most investors missRisk #1: Someone reports you for creating a “duplex”Usually triggered by:Two full kitchensFire separation doorsAdvertising separate “units” on ZillowIf you avoid that, 99% of issues disappear.Risk #2: A downstairs bedroom without proper egressThis is the most common code violation on these setups.If you convert a garage, the inspector will want:Window height within egress codeMinimum ceiling heightHVAC that meets Florida energy codeNo sleeping room opening directly into garage space (if garage door stays)Risk #3: Flood zonesSeminole Heights has pockets of funky elevation requirements.If your garage slab sits low, you may need:Flood ventsElevated electricalWorth checking before sinking money.5.

Run real numbers.If the mortgage payoff is around $32k and the true value is much higher, there could be a strong equity position, but only if the property is in good condition and the transfer is done properly. 

I currently use a spread sheet to document my time with each property.Maybe an accountant, CPA or other can weigh in on the proper methodology of documentation that will survive an IRS Audit.

New investors chase bargains and end up managing chaos.Section 8 works extremely well when you operate like a business, not a hobby.The investors who avoid the “horror stories” are the ones who use systems, screen properly, renovate intelligently, and understand how the program actually functions.What’s the biggest misconception you hear from investors about Section 8?

Proper grading/drainage around the foundation?

Including full project management. he has few project managers under his belt that manages few projects.Until now I was kinda doing project management from abroad (as I am living put of the country), and has also person to be boots on the ground to see how the proper job is being done.

This way, I can maintain control over the access to my properties and ensure that everything runs smoothly.

I started with turnkey to get into REI, but now with a little more experience under my belt, I'm considering selling my turnkeys at a loss and moving on to something with more meat on the bones.Exterior - $225- pressure wash- remove damaged/torn window screens- remove all stickers from all windows- repair hole in soffit to the right of chimneyMain Interior - $825- repair/replace damaged sheetrock- wipe down and clean all walls throughout house- wipe down and clean all doors, trim and baseboards and throughout house- touch up paint on walls- touch up paint on trim and doors- replace missing/broken blinds- replace missing/broken doorknobs- replace missing/broken light switch and outlet covers- replace missing/broken light bulbs- make sure all doors open/shut properly- make sure all windows open/close properly- replace air filter- replace batteries in the smoke detectors- remove all trash from attic- clean and paint all bars and shelves in closets- clean all AC vents and return vents- make sure all drawers and cabinets open and close properly- make sure to clean out all drawers and cabinetsLiving Room - $10- clean and paint fireplace with black high heat paintKitchen - $55- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk sink, floor, counter- replace broken trim on ends of countertopsLaundry Room - $10- clean and paint inside washer box- clean out dryer ventHalf Bathroom - $25- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk toilet, sink, tub, floor- tighten door handleMaster Bathroom - $75- paint cabinets inside and out- tighten loose cabinet hardware- caulk toilet, sink, tub, floor- fill in missing grout in showerHall Bathroom - $35- wipe down and clean all cabinets, inside and out- touch up paint on cabinets- paint under sink- tighten loose cabinet hardware- caulk toilet, sink, tub, floorStairs - $20- paint handrail- paint banasterGarage - $25- pressure wash garage floorLocks - $300Yard - $175- cut, edge, weedeat- trim bushes- trim up trees- clean up fencelines- haul off all trash- Remove grass from cracks in concrete- remove all loose limbs and debris- clean out flower bedsFlooring - $275- clean all carpetsCarpet Cleaning Estimate: $275Garage - $100Program two new garage door remotesPest Control - $85- pest control needed: General pest sprayTrash - $350- remove trash at the curbCleaning - $120