Be different than your friends and listen to podcasts and information vs the same music you've heard a thousand times already.  

Triumphant music plays and the hosts reflect on what they learned from that particular project.

I head home, compose myself, sit down at my desk and call her back.

I have had two contractors go over the entire property both with 30+ years of experience in the area both have done outstanding work, both contractors thought I was on target with my 25k-30k estimate on repairs to bring the property up to par, that was music to my ears. 

The experts say that this market should continue to grow as spurred by job growth, however, the run up on prices over the last two years has been significant and I wouldn't want you holding onto a property that losses $ when the music stops playing.

There's a saying in the live musician community - "I play music for free; I get paid for the ********".

I'm awesomeWork in Music Business full time at WME/IMG and am a licensed Real Estate AgentGot my license to purchase my second home, to turn my first home into a rental--which is currently worth over 2x what I paid for it and cash-flow it $1200/moLooking to purchase addl. rental properties a la BRRRR and other meanstrying to figure out if i should cash out to buy addl. properties, HELOC it to leverage addl. capital, etc.

(Non-beginner investors can do OK with condos on a short-term basis at the right point in the market cycle but care must be taken not to be without a chair when the music stops.)Third, in this particular case the #s are not only tight, by my calculations they'd actually put you into slightly negative cash flow.Using the same format as the original, my numbers are:Property:Purchase price: $95,000Down payment: $19,000Private $ down payment loan: $14,000Real down payment: $5,000Monthly income: $1,100Yearly income: $13,200Operating expenses using the "50% rule": ($6,600)this would include taxes, insurance and HOA feeYearly mortgage pmts (main mortgage): ($4,896)(76,000 loan for 30 years at 5%)Yearly private loan pmts: ($1,782)(14,000 loan for 10 years at 5%)Yearly free cash flow: ($78)For all the reasons above, I would recommend you continue saving until you have the entire down payment.

I go by Kirosakis mantra - you make money when you buy - not praying on market appreciation.Once the music stops in this game of real estate musical chairs and interest rates kick back on I may look at ontario again.

Do you hear Kumbaya music playing somewhere?