@James KhailRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

@Sanil Subhash Chandra BoseRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

The pros as I see it are Good ROI for the groupMoney made for my mentorI get the house for 25k under list with the security of no other offers coming in and the possibility of 25k profit.

Otherwise, as @Nathan Gesner points out, it can be MORE expensive than hiring the right professional.ALSO:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Did you get their security deposits and prorated rents?

@Ben Burgess Like you, I was about 8 years into my career in Tech when I made the decision to get into RE investing, and funny enough, secured my first rental property in Medford!

Based on an estimated appraisal of $1.1 - $1.2 million, you could secure a loan of up to $900K (75% LTV).

With private lending secured, I bought the property, excited to add another rental to my portfolio.What I didn’t expect was just how much of a nightmare this property would turn into.After closing, we began the renovation.

I may be able to help you secure a no-experience ground-up construction loan, even though lenders typically require someone with prior construction experience.If you're willing to reach out, I’d be happy to discuss the possibility of pulling some strings to get this project funded.