This lowered my cost basis per lot by 7k.

Never invest in any city on this list of the 50 most dangerous US cities.Low operating costs: High operating costs are one of the driving factors for many companies, leaving states with high taxes, regulations, and other costs.

While under contract, we perform due diligence and there will be some soft costs incurred. 

Refinancing has more nuances than it seems, and so do closing costs.

@Dave MaloneEverytime I read “the goldmine is in the network” to me they are selling kegs of kool aid and it’s a circle you know what with nothing for itYou could read j Scott book and get a lot of info on costs etc.

I paid him the normal closing cost, a few $ grand in fees, and a slightly higher interest rate than I might could have gotten conventionally. 

While living in a high-cost area can present challenges, it also opens doors to creative strategies, like investing out of state or leveraging partnerships.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

If you have a good FICO, a decent down payment and closing costs, go ahead an do the first one. 

One your loans will be a higher interest rate, next you will have annual filings, the cost of a registered agent every year, and items like that.