Loan or my own cash? First time buyer, out of state investment

[Nicholas Henry]

Hi Everyone,

I have enough cash to finance my first purchase on my own...but should I? 

Aside from the learning experience, there are several reasons why I might (or might not) want to take out a loan.

My target investment:

- SFH in the Cleveland, OH area
- $30-$50K purchase price + $10k-$40k rehab (or maybe more for both, if I get a loan)
- Looking to BRRRR or possibly flip

About me:

- I have my real estate license, but just for MLS access, never used it
- FICO is around 725-750
- I work a 9-5 and make about $65K per year
- I live in Oakland, CA, and I've never owned property (although I have managed it)
- I have a fair amount of extended family near Cleveland who are in the building business, so I have some trusted referrals for contractors.

What do you think, BP fam? Any feedback would be greatly, greatly appreciated!

Thank you!

[Chris C.]

@Nicholas Henry

Trying to get a mortgage for 50k Purchase price might be difficult. (closing costs, etc will be a higher percentage of the loan so it may not be worth it)