That will increase your material costs for the job and is the contractor paying for the material in their bid or are you paying for it and paying them a labor cost.

No management costs as it would be self managed, and estimated property taxes by the average of the past few years.

We provide actionable information, not MLS data sheets.I’ve experimented with increasing the scope of our software.

Once you’ve built some confidence and systems, you can start exploring additional markets.I personally focus on 2 markets that are about 20 mile radius.Make sure the market(s) you choose align with your investing goals, whether that’s cash flow, appreciation, or both.

As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

This is very helpful.I agree and am aware that there is increased risk to an auction property. 

Are you self managing those properties?

These steps can help you secure financing and confidently move forward with your first property.Good luck!

Did lenders reactivate HELOCs after the rates increased?

If you have access to some money you can increase your equity in one jump.