Hello All,We just got an REO under contract in a tough market which the asset manager was not willing to go below list, but after having it inspected it needs some costly repairs that we were not anticipating. 

Holding costs ended up being much higher than I anticipated.

We anticipate buying another in the next 6 to 12 months. 

I haven't done fiance, but I wouldn't anticipate it being an issue (provided the fiance owns the house, it doesn't work if you are living rent free with a renter), I'd just be sure to broker it to a more liberal lender.

I was actually supposed to close this coming Friday (5/31/19) on the home, until I received the closing disclosure yesterday from the bank with an estimated monthly payment that was WAY higher than what we anticipated ($1100 vs $800-850). 

With significant demographic shifts either anticipated or under way, new renter households are expected to increase by 13 million by 2030, according to the Urban Institute.Enjoying a passive income stream has never been more obvious than the increasing heating up housing rental market.

We ended up getting more than what we were anticipating before putting the house on the market, so we are happy with that. 

One of the things I've heard about hard money is in addition to higher rates, they have pre-payment penalties.Current or prior ownership of real estate: as stated, I am currently renting and intend to rent for at least another year or so.Value of property at present and/or your offer price: $158000 (zestimate)After repair value: $Anticipated or actual appraisal issues: will perform one during due diligence Current rents per month: $425Fair market rents per month: $500Down payment or equity: $30000Source of down payment funds, if applicable: see aboveIncome Source: Salaried/hourly W2, VA comp, Gross monthly income (optional): $1800 tax exempt, approx $4-5k in base wage (+ OT opportunities)Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: $800/mo in rentFICO: Excellent Credit issues: None.

If your anticipated returns(measured by cash on cash and appreciation) are similar to what you expect in buying a local property, I say go for it- if you're off by a few percent, you've learned a valuable lesson.

I anticipate max water flow demand to be around 4 GPM, with low flow fixtures installed.