Investing in a Rental Property

A simple, step-by-step path with verified experts. Booking is free, 24/7.

Your 5 steps

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1. Set Your Deal Rules — Tax Expert or CPA

Pick entity vs personal, plan depreciation, and set targets (cap rate, DSCR, reserves).

2. Find & Analyze Deals — REALTOR®

Pull rent comps, build a simple pro forma, and shortlist properties that fit your rules.

3. Choose Financing — Loan Officer

Compare DSCR vs investor conventional (rates, LTV, reserves, docs). Get a proof of funds/pre-qual.

4. Protect the Asset — Insurance

Bind DP-3 landlord policy (and consider an umbrella). Add lender as mortgagee; send binder to lender.

5. Close & Set Up Books — Tax Expert or CPA

Create Schedule E file, start the depreciation schedule, and track improvements/expenses from Day 1.

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Quick tips

• Expect higher down payment + reserves than a primary home.• Under DSCR, rents drive approval—tighten your pro forma early.• Keep a separate bank account for the property to simplify taxes.• Consider an umbrella policy for extra liability protection.