@Alex Silangyes, i will buy - but only to BRRRR, or on seller financeand only if the numbers workmade 2 offers toward the end of last year on potential BRRRRs and got outbid. 

Clearing potential building sites.  

A better comparison is to compare your potential real estate investment to whatever else you might do with the money.

I saw some properties today, only one of which I thought had potential, but an offer would have to be pretty low to hit the 70% rule which is the goal.

Any sober living investors out there willing to let me pick their brain on how to underwrite a potential deal?

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.

What I do have is relentless energy, focus, and the drive to succeed in real estate.I’m diving headfirst into multi-family and commercial real estate because I know this is where true wealth is built.

As someone based in San Diego, I’ve also noticed that investors eyeing California real estate tend to focus on potential future development or expansion (especially if you have the patience to navigate local regs).