Purchase price: $65,000 Hybrid Fix & Flip, bought, made minor repairs and clean out.

Too many newbies seem to think they can blindly follow "old" advice in today's real estate market and be successful.Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.What many newbies have figured out is that they can't make the numbers work on rental purchases in their states - like California, Arizona, New York, New Jersey, Washington, etc.What they have NOT figured out is that if they go to cheaper markets, they aren't being shown Class A rentals to buy.

As an investment, I would never consider a property that brings in only 7% of the purchase price.

To OP, it's not as scary as you think it is, this will be your first home purchase, you can purchase a multi family or SFR and house hack.

Here is the wholesale rate range at 85% loan to value.  300K purchase price using Jacksonville as the property's city. 

If you would like to generate your own leads, I would pop over to the the wholesale section of the forum and start there, and perhaps purchase some books from the BP store.

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 The property is a 2 bed 2 bath with a den and a 1 car garage.

Hi Aaron, I know I wasn't the original poster, but we did end up doing new construction down there in the past year (also purchased cabins before deciding to build). 

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”.