The finishes are even nicer than the other house (lighter floors, custom walk in closet, nicer back splash...)Thank you!

Send them a certified letter (return receipt)  outlining costs and include your invoice for damages over and beyond what the deposit covered. 

Here’s what to consider based on your situation as a first-time landlord:Tenant Backs Out After Signing a LeaseSince your tenant signed a 13-month lease and paid a deposit, the lease is legally enforceable unless it includes a cancellation or early termination clause.If no such clause exists, the tenant may still be liable for rent until you secure a new tenant.The agency can generally retain the deposit to cover unpaid rent or costs related to re-listing.Any resulting legal fees or rent loss may be deductible on your Schedule E when you file taxes, as part of rental-related expenses.Appealing Your Property Tax AssessmentIf your property taxes increased significantly, you can file an appeal with your local assessor.A successful appeal, supported by comparable property sales or valuation errors—can reduce your property tax bill, improving cash flow.While insurance premiums are not directly tied to tax assessments, a lower assessed value may affect premiums if your policy is based on replacement cost or uses assessed value as part of the underwriting model.Should You Put the Property in an LLC?

My goal is to replace my wife’s teaching salary within the next 5 years, ideally through rental income.Here’s what I’m thinking so far: Markets: Kaufman County (Specifically Kaufman, Terrell, Forney) Strategy: Mix of light-reno BRRRRs and turnkey rentals Target properties: $200K–$300K, 3/2 SFRs or small multifamily Projected rents: $1,700–$2,000/month Capital: Planning to use up to ~$140K at a time, keeping 6 months’ interest in reserve Roadmap: Build team → First light-reno BRRRR → First turnkey → Scale to 4–5 properties by end of Year 2I’m including rough example deals to make it tangible: Strategy Location Purchase Reno ARV / Refi Rent/mo Net Cash Flow/mo Light BRRRR Terrell $200K $15K $250K / $187K $1,700 $450 Turnkey Kaufman County $300K $0 N/A $2,000 $500 I’m posting this to get feedback before I start making offers.Questions for the community: 1.

.: Appreciate the gut checks — here’s where I’m at and a couple asks:Margins/reservesYes, underwriting includes vacancy (7%), PM (~9–10%), taxes/insurance, and reserves for repairs/CapEx.At in-place rents ($2,150/mo) the model shows ~$89/mo cash flow after debt + vacancy + reserves with DSCR ~1.32.Getting to market ($2,400/mo) materially improves cushion, but I’m not banking on it Day 1.Rate / productI have two current quotes from credit unions: 8.420% and 8.375% (30-yr amort, DSCR, 80% LTV, 5-yr prepay).If ~6.4% is realistic today on a DSCR for a 2-unit at 80% LTV, I’d love intros to those lenders. 6.42 is not realistic for a DSCR at 80% ona two unit without paying way too much in upfront interest (also called discount points) but 8.420 is also too high with a good credit AND a 5 year pre-payment penalty. 

Familiarize yourself with the Fair Housing Act, which prohibits discrimination against people with disabilities, including those recovering from substance abuse.

Scenario A – Including your occupied unit as "lost rent":Rental income: ~$8,625/moExpenses (taxes ~1.2%, insurance, maintenance, reserves, mgmt even if self-managing): estimate 35–40% of rents = ~$3K–$3.5K/moNet Operating Income: ~$5,100/moDebt: ~$9,963/moCash Flow: ≈ –$4,800/mo (negative). 

These include real estate investment clubs, seminars, workshops, and conferences.

These rules include things like parking, quiet hours, etc.

You only pay interest on what you actually borrow, and there are no prepayment penalties.If you’re thinking about something bigger, like financing for multiple rentals or commercial properties, WESTconsin Credit Union has loans for both owner-occupied and investment properties, including multi-family and office spaces.