I approached the REO bank that owned the condo complex a year later when they're still stuck with 30 units and got another one for $40K.

If you want to buy real estate and can't come up with the down payment funds there's two approaches:  (1) save up until you can afford the down payment; or (2) raise LP capital*.

Definitely get multiple bids both for cost comparison and rehab approach comparison.

Many investors in similar positions begin by building a network and learning the basics, such as understanding financing options, which can often be more flexible and approachable than people expect, especially for those just starting out.One suggestion is to set clear financial and personal goals so that you know what you’re working toward with each investment.

This approach can work for those with strong deal potential but raises questions about leverage, risk management, and lender flexibility.What are your experiences with 100% financing or gap funding strategies?

My approach has been to acquire/renovate/repurpose/lease-up commercial properties so I appreciate how much work and finesse it takes to match her salary.

Do you prefer flipping for a quick profit, or do you take a more long-term approach with rentals?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I know that would be the easiest approach but wondering your thoughts.2.

This depends on the market and your approach.