I would buy something closer to turn key if you can, even if you pay up, because it will reduce the work you have to do and figure out as a new large-scale investor.

We explained to him we would pay for probate and pay to fix up the house to get it rented.The lease is for 5 years but dissolves once we close.

SFR houses will only appraise based on comps.So unless someone was paying cash you can't get more than they appraise for.The camp ground is a different story.

If your willing to do so, you can live in the casita and then rent out the main home and have your tenant pay the majority/all of the mortgage (depending on what type of deal you find obviously). 

Purchase price: $125,000 Cash invested: $75,000 Sale price: $248,000 Decent fix and flip completed in 2024.

We only needed to pay earnest money and a portion of the closing fees bring upfront investment to 12-15K.

For example I would rather buy a property for a $100k discount that may have negative cash flow of $500/mo month for 3 years than pay market value for a property that cash flows $200/mo.

Duplexes for sale starting at $585,000 with a 3.75% interest rate.

The property owner's tax professional can help them with that and ensure they don't pay taxes twice on the same income.Disclaimer: My advice/opinion in this post is just that, my opinion.

Purchase price: $341,000 Cash invested: $136,000 Sale price: $519,000 A house that I bought, renovated, and sold.