@Jerry Velezif a property is owned outright with no mortgages, debts or liens on it, then it can (potentially) be purchased on seller financing. 

We've never used percentage-based criteria, like the 70% Rule, for purchases.

Purchase price: $330,000 Cash invested: $40,000 Hey everyone, I wanted to share a personal story about a property I purchased and renovated in Hudson County, NJ.

That someone is going to deliver to you, on a silver platter, a property purchase you can simply say "yeah, sure, I'll take that" where you do some paint, carpet, little cleaning and tidying and turn around and clear a $100k? 

I have programs that require only 10% down for the purchase, and will finance 100% of the rehab.

However, due to keep purchasing real estate, my DTI is high and close to 50%.

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.  

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

You might consider hard money for the initial purchase or going with a DSCR type lender if you find something that is more turnkey.Hey!

My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?