The education and support are incredible, as are the resources and the community.

Or, the house just sits longer and gets passed over by those buyers that are still in the market.And no, it doesn't matter that prices are up 2.8% if you can't find comps to support that asking price. 

I am looking to buy a rental in Springfield IL and need to build out the supports.

Incurring debt before you have sufficient earnings to support that debt.

To take it a step further we have been taking loans from our 401K’s to help support down payments on rental properties.

@Brad Tullunderstood, but just to help you think through it, it's not about whether you can support the payment or not, it's about whether the investment makes sense.  

For example: If a tenant applies for a $1,000/month rental and they have gross monthly income of $3,500 they meet the first criteria, but when applying the second criteria you find they have a $500 car payment and $250 child support payment.

And then you have BP and an army of experienced investors happy to answer your question or poke holes in your deal before you pull the trigger..Be honest with yourself, are you looking for moral support?

However, I had to subordinate the sellers note to 2nd position (hint: set up that language in advance to streamline the process, if that's the direction you're going to go).Since the ARV was high enough, and the potential income would support the mortgage and expenses, it all worked out. 

Purchase price: $125,000 Cash invested: $65,000 Sale price: $250,000 Wish I could have held onto it but needed the money to fund future deals What made you interested in investing in this type of deal?