I one tried to buy a house where the seller was being assessed/taxed for an additional house that was NOT on the property but was actually on the neighbors property and they had been paying an extra $1k or so in taxes for this extra small house for ~10 years!!!

I’m new to real estate buying as I only currently own two properties.

So your 50k doesn't stretch as far as you think once you start adding everything up.Thank you for this information, it gave me a lot more clarity.I was thinking for my first deal, I could find a property for $125,000 including down payment and use an FHA loan so I only put 3.5% down, I’ll be using less of my $50K capital which will help prevent my $50K from getting drained after down payment, closing costs, etc, let’s say $12,000 total, I’ll have $38,000 left in capital. 

Proof of Services.Be prepared to provide proof of the services performed and hours worked, especially if the IRS requests this information during an audit.6.

Also, don’t forget to explore platforms like Airbnb and VRBO to see what properties are performing well in your target areas.

I only invest in Youngstown.

In my case, I am encountering this problem and did not effectively perform the BRRRR as best as I could have.

We have several rentals that we have purchased over the years near the Woodlands/Conroe area that have performed much better for cash flow with the same appreciation %.

If they perform poorly, you are out the rent income or their paycheck, and you have to pay to fix the problem.

.: Quote from @Barry Clay: Relative beginner here, I put an offer on a 2nd lien for 14K non performing note in Florida.