@Aristotle KumpisWe do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.Of course, with private lenders, you must give up equity or a return on the debt.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.

My goal is to purchase 15 units in the next 5 years, and produce a cash flow of $20k per month within the next 10 years.  

Since them, several other national flat fee brands have set up shop in Metro Detroit.

But unless you get a value-add property, purchasing real estate really doesn't make much sense in this environment?

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

And we usually replaced windows/storm doors and HVAC systems within a year of purchasing older units, and this has helped as well.

Learn the area, meet other investors at meet-ups and one-on-one conversations, and once you feel more confident, you can make a purchase to live in. 

The ONLY reasonable deals are:Appliances when purchased if you have a retailer that offers unlimited repairs/replacement for 5 years for 10% of price.