Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

If you can find practice tests, that is my recommendation - that is what I did after taking the required time component and did not have any issues passing the test. 

So when the bank requires insurance for the loan amount.. that will work generally.. 

@Marcus Stokes Starting your first fix-and-flip can be exciting but requires careful planning.

If it’s tied directly to the lender as part of your mortgage agreement, you’d probably need to negotiate with them or refinance with a different lender who doesn’t require that restriction.However, if the restriction is part of the property deed itself and was placed by a previous owner or another party, it can be more complicated.

or if not 50% capital required why wouldn't the other partner just find a realtor and CPA to find/underwrite the deal and 3-5% for property management then own/keep 100%?

Real estate requires cash, that's why it's called in-vesting.

This requires an independent appraisal valuing the property at $400k and proper documentation from the seller confirming the $200k donation.Ensure the church is a qualified 501(c)(3) entity, and consult your tax professional to comply with IRS rules.

I make sure I screen each potential tenant thoroughly (background and credit checks) and require references.