Also, often times the original homeowners still live in the property so once the sale is ratified you have to go through the eviction process or offer cash for keys to get them to leave.

Lenders want to see income, not negative cash flow, even if the loss is just on paper from depreciation.

Don't want all my cash flow to go towards maintenance. 

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 Purchased off-market from a tired landlord, this fix-and-flip involved renovating a distressed property with outdated features and deferred maintenance.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

Now you have the Tenants Bill of Rights and every tenant now gets a free lawyer if you try to evict them.

Feel free to download it here and reach out to me with any feedback: https://apps.apple.com/us/app/biggerpockets/id6736392302

So about a 35% cash on cash return for my buddy each year on his $100,000.

You will NEVER cash flow while living there but have a chance of cash flowing when you move out.

Feel free to comment below or shoot me a message or colleague request.