However, some investors are comfortable with this approach, especially if they prefer to limit their initial capital and plan to refinance a few years after purchase—particularly as discussions about the Federal Reserve lowering interest rates into 2025 continue.Ultimately, successful investing hinges on selecting a growing market, a desirable neighborhood, and assembling a strong support team.

Just do not sink so much of your liquid reserves into a property use the banks money!

From the title insurance, the road says public rd, we also obtained fr title company of a grant deed fr 1963 that says “reserving easement” of this same road.

Make sure you have a downpayment, closing costs, inspection money, as well as six months in reserve savings.

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.

Depending on the endeavor, your still have potential origination, closing cost, reserves of different size(deal type dependent) and other applicable fees/costs.

I have 3 mortgage payments and enough cash reserves to cover all expenses for 2-3  months without tapping into personal savings.

Directly across the street you have Panda Express, Popeyes and a pawn shop/jewelry store must I say anymore? 

The DU provides information on Credit, liabilities and income and it can be possible that one offer will be chosen over another because of a FICO store or income even though it gives an approval and that is a very thin line for discrimination.