Getting first yes on an offer made me realize that I wanted another

Getting first yes on an offer made me realize that I wanted another. 

The property I got a yes for needs some work. It hasn't been used for over 4 years since last owner passed away from old age. Asking neighbors, the street has plumbing problems, and even the specific apartment got clogged regularly. This made my partner worry since this is our first deal and don't have unlimited budget or time to deal with a problematic property like this. Also, the property looked uncared of. There was no home owners association and tenants didn't look to care much about the health of building. 

Running the numbers, offer accepted at $55,000, it looked like I needed $18,450 cash for down payment (15%), closing costs, and 6k on repairs (needed brand new kitchen, two new doors, termite treatment, paint, plumbing fix, bathroom re-up). This made me realize that I could afford a better apartment, all furnished, in a better location. I've seen the property before but did not pursue looking for something "cheaper".

For the better apartment, asking for $180,000, I could go up to $120,000 and would need around 23k but with a no-work apartment and better tenants paying more. The cheap can be costly, a popular saying goes. I learnt a lot about the process of purchasing a property while shopping for the wrong one. The best way I learn is by doing! This didn't cause me a dime, just hustle. 

Day 8 - #100RealEstateChallenge