That ensures you don't spend it on other things and know exactly how much you have to spend on the next purchase.

I recently purchased a burnt building and I'm eager to rehab it.

Once I was deployed on a submarine in the North Atlantic and they helped my wife with a 1031 exchange on the sale of a home and purchase of 2 other properties.

Purchase price: $185,000 Cash invested: $35,000 Sale price: $671,000This was our 3rd home.

I currrntly own a home and am renting it out, I am working on purchasing a duplex.

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

I'm not a fan of novations where you don't get the purchase agreement notarized and filed at the courthouse.

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

This will be a straight up listed property and a purchase just to see the process on a Commercial/Industrial property. 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”.