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20 guides

The first-rental course

Work through these in order, from how much do I need to your first 90 days as a landlord. Plain English, real numbers, no jargon left undefined.

Step 1 How Much Do You Actually Need for Your First Rental? A plain-English breakdown of every dollar your first rental property really requires — down payment, closing costs, reserves, and the buffer almost nobody budgets for. Read →
Step 2 Down Payment Sources: Cash, 401(k) Loans, HELOC, and Gifts Where the down payment for your first rental actually comes from — savings, a 401(k) loan, home equity, or a gift — and the honest pros, cons, and risks of each. Read →
Step 3 Conventional vs DSCR vs Bank-Statement Loans (Beginner's Version) A plain-English comparison of the three loan types first-time investors meet most — how each one qualifies you, who each fits, and the honest trade-offs of each. Read →
Step 4 Your Credit Score and Your First Investment Loan How your credit score actually affects an investment-property loan, the score ranges lenders care about, and the concrete steps that move your number before you apply. Read →
Step 5 How to Pick a Market: Choosing a City to Invest In A beginner's framework for choosing where to buy your first rental — jobs, population, rent-to-price, and landlord-friendliness — with the questions that actually predict a good market. Read →
Step 6 Local vs Out-of-State Investing: Trade-offs for Beginners An honest look at investing near home versus far away for your first rental — the real pros and cons of each, and how to build a remote team you can actually trust. Read →
Step 7 How to Analyze Your First Deal (1% Rule, 50% Rule, Real-World Version) An honest beginner's walkthrough of the 1% rule and 50% rule — what they really tell you, where they lie, and how to analyze your first rental deal the way it actually works. Read →
Step 8 Cash Flow vs Appreciation: Which Bet Are You Making? Every rental property is a bet on cash flow, appreciation, or both. Here's how a beginner should think about the trade-off — and why your first deal should lean toward cash. Read →
Step 9 How to Read a Pro Forma Without Lying to Yourself A pro forma is a seller's best-case fantasy until you stress-test it. Learn the optimistic assumptions hidden in every one — and how to rebuild the numbers honestly. Read →
Step 10 Property Management: DIY vs Hire Out for Your First Rental Should you manage your first rental yourself or hire a pro? Here's an honest look at the trade-offs, the real cost of each path, and how to decide for your situation. Read →
Step 11 LLC or No LLC for Your First Rental? Should your first rental go in an LLC? A plain-English look at liability, financing trade-offs, costs, and when it actually matters — written for beginners, not lawyers. Read →
Step 12 Insurance for Your First Rental, Explained A landlord policy is not a homeowner policy. Learn what coverage your first rental actually needs, the gaps that quietly bankrupt owners, and how to read a quote. Read →
Step 13 Vacancy, CapEx, Maintenance Reserves: The Hidden 30% The costs that sink first-time landlords aren't the mortgage — they're the ones that don't bill every month. Here's how to budget vacancy, CapEx, and maintenance reserves. Read →
Step 14 Tax Basics for First-Time Landlords A patient, plain-English walk through how rental taxes actually work — deductible expenses, depreciation, and the paper losses that surprise new landlords. Read →
Step 15 How to Find a First-Investor-Friendly Lender Not every lender wants a first-time investor's business. Here's how to find one who does, the questions to ask, and how portfolio and conventional loans differ. Read →
Step 16 The Realtor Question: Do You Need One, and How to Pick One Do first-time investors actually need a real estate agent? Here's how agents get paid, why an investor-friendly one matters, and how to choose well. Read →
Step 17 Inspection Red Flags for Beginners The five inspection findings that can quietly wreck a first rental — roof, foundation, sewer, electrical, and water — and how to tell a deal-breaker from a fix. Read →
Step 18 Appraisal Mechanics for Investment Properties What an appraisal is, how appraisers pick comps, and exactly what happens when the value comes in low on your first investment property — explained simply. Read →
Step 19 Closing Day: What Actually Happens A calm, step-by-step walkthrough of closing day on your first rental — the documents, the people at the table, and exactly what to verify before you sign. Read →
Step 20 Your First 90 Days as a Landlord The keys are yours — now what? A patient roadmap through your first 90 days: turnover, listing, screening, the lease, and a move-in that protects you. Read →