So, for a $60k loan, you'll likely need $12k-$15k for a downpayment, $8k-$12k for closing costs (prepaid insurance and taxes, lender fees, attorney fees, points, prepaid interest, transfer taxes, etc), and then another couple thousand for reserves and whatever else.

Purchase price: $289,000 Cash invested: $50,000Live in/flip then LTR

@Trevor Halama Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

If you buy something too nice that is also light and compact then a guest may help themselves to it.

And if the housing market stays in correction territory (by # of transactions) then they may even consider adding to their treasure trove of Treasuries (say that 5 times fast).

We try to help them as best we can, but then our name gets trashed when they don't get their paper results - because you know, EVERYTHING is the PMCs fault.

Become proficient in one area of the business and then expand from there.

If not, then it looks like we'll have to make the decision of whether to get an attorney to write something up - or back out as the phrase "throwing good money after bad" keeps popping into my mind.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

If a closet is a necessity for it to be a bedroom , then I own 2 houses with no bedrooms .