I did all the repairs per spec and under budget and was even able to add four palm trees to the front, a pool heater and fence in the backyard which should have made the value go up! 

@Marquez Davis You can expect a lot lower leverage with land purchase, but as @Sasha Mohammed said, there are products for ground up construction that roll the costs (horizontal and vertical) into the overall construction budget.

For Flips:at least 50% of liquid cash for unexpected expenses or cost overruns of the property’s rehab budget additional to downpayment financing, closing costs and improvement funds.Too often you hear investors blaming the realtor for their poor decisions.

Do you have the reno budget?

A solid financial foundation indicates that the sponsor can handle unforeseen challenges and continue operations smoothly.Track Record EvaluationAnalyze the sponsor's historical performance on similar projects, including timelines, budget adherence, and overall project success.

This includes budgeting for initial investments, calculating potential returns, and having a contingency plan for unexpected expenses.Real Estate is a vast industry, and with dedication, continuous learning, and ample networking, success is within reach.

The seller accepted $180k, so inspections start tomorrow (Wed) and Friday. 

My alternative would be a conventional loan with 20% down where my budget would be about 200k or 40k down. 

Here’s a bit about my current situation and goals:Current Rentals:Number of Properties: 1Type of Property: Single-family home (we lived in it and turned it into a rental when we moved out)Location: Corpus Christi, TXInvestment Goals:Short-term Goal: Acquire more properties and build an equity-heavy portfolio to have leverage if needed.Long-term Goal: Build a portfolio that provides enough cash flow to cover all living expenses.Focus: Expand my portfolio, preferably to at least 10 properties in the next 10 years.Financials:Current Monthly Cash Flow: Close to breakeven (potentially negative by $20, factoring in reserves).Future Investment Budget: No savings at the moment.

I’m on the board of a small camp in Crofton, NE (near Yankton SD) (~120 beds, 80k budget) and we have had insurance policy adjustments in policy and costs for last 4-5 yrs.