Good morning.My partner and I are buying a single family in FL. 

I've built my entire rental portfolio off of going direct to seller and starting the cycle of 1. sourcing my own deals 2. assigning 3. using assignment fees to build capital to buy more real estate and more marketing. 

I offered $1.73M for the building days after it was listed and 6 months later ended up buying the building for $1.73M.

Quote from @Derek Wilke: Investment Info:Small multi-family (2-4 units) buy & hold investment.

For me personally with the lessons I have learned - I would build capital before buying anything to hold / flip.

Our plan is to use the "Sneaky tactic" and for the next few years, the plan is to buy a house that needs a little TLC, fix it up as we live in it and move on to buy another house until were tired of doing it or reach a decent income.

@Tyler GarzaYour "buy a new house, rent the old one, and trade up" strategy is a solid way to build wealth, but there are a few key factors to consider.

We've ranked 183 Detroit Neighborhoods for a better approach, yet warn clients we/they still need to evaluate the block before buying.

Buy properties, get rent, buy more properties, get more rent.

I haven't bought a deal or anything I'm still saving up, I'm at 25k I'll hopefully be ready to buy in the next three years, otherwise the city I'm buying in is Barrie which is generally a great appreciation market, I've got two brothers Chris owns two rental properties and Ryan just bought his first partnering up with my brother chrises second deal, so I might partner up for my first deal I don't know yet tho depends on what my brothers want to do.when shopping properties I do remember from the book you shouldn't buy properties based off cap rates but im wondering at the beginning do you first skim this information say the property is listed at a 6% cap rates which is common in the Barrie market would I then would go walk the property and see if things are viably ok, once I believe it's resdy for a professional inspection I'll get information about deferred maintenances mainly capex based off what I need to repier I'll be walking the property with the professional and I guess he'll give me a rough cost of How much everything that is needed and when I need to get the work done due dates, also I don't know how to calculate how much I should set aside in monthly terms after I get the required information from the inspector I'll be doing this for the first time, if the pure cash flow is incheck  I believe usually NOI is usually around 60% including appreciation and mortgage income andone going deferred maintenances around 35-40%, now I'm ready to make an offer?