Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

Vaughan, did you tell him he said he would do it for free?  

While we currently live in Stephens City, VA, we’re open to investing in other states where the numbers make sense.Real Estate Goals & StrategyInvestment Focus: Buy-and-hold rentals, short-term rentals, and potential multifamily propertiesMarkets of Interest: Open to investing outside of Virginia in cash-flowing, landlord-friendly marketsCurrent Stage: Learning, networking, and preparing for our first investment propertyLong-Term Vision: Build a diversified rental portfolio that provides financial freedom and generational wealthWhy I’m HereNetworking: Connecting with experienced investors, agents, lenders, and property managersLearning: Gaining insights from those who’ve built successful portfoliosCollaborating: Open to partnerships, joint ventures, and creative financing strategiesWith my sales background, I understand the importance of negotiation, deal-making, and relationship-building—all of which I plan to leverage in real estate.

Purchase price: $325,000 Cash invested: $2,485 Sale price: $335,000 Low upfront cost due to creative financing.

Cash flow is a math problem. 

I dont currently have any projects going in CA at the moment but I have been looking for a Summer cabin up by Truckee and I suspect insurance will be an issue although I will pay cash but I will still want some coverage.

Purchase price: $122,000 Cash invested: $41,000 Value after renovation $175,000.Closing $ 31,000 Renovation $ 10,000 How did you add value to the deal?

Feel free to reach out. 

Cash Reserves & Emergency Fund✅ Have 3-6 months’ worth of expenses (mortgage, insurance, taxes, and maintenance) saved.✅ Keep an emergency fund for unexpected repairs and vacancies.2.

Or providing substantial services in conjunction with rental activities can subject to SE tax (hotel like services...room service, daily cleaning, meals, free shuttles etc).Being a REP just defaults the classification of the rentals from passive to non-passive.