So, scope out the competition on #1 & #2 above to understand what the rental or sale market expects.- You will lose money if you go overboard!

Nationally, the levels of pre-existing home sales are back at 1995 levels mostly because of the interest rate conundrum, so I'm interested to know what's happening in your area that high rates are causing more people to sell?

it stinks because i live in Delaware and there is literally no multifamily units for sale.

Some pros:- You'll have plenty of cookie-cutter comps so you should be able to get a very accurate estimate of ARV and/or sale price in the case of a flip.- Your maintenance and repairs will be mostly limited to the interior of the property as the condo management will maintain the building- You won't have to worry about tenants maintaining the grounds around the buildingCons:- Condo fees may change drastically over time and it's largely not in your control- Condo bylaws can be tough to work around.

https://www.har.com/content/department/mlsHouston Real Estate Highlights in November, 2024:-Single-family home sales increased 6.0 percent year-over-year;-Days on Market (DOM) for single-family homes went from 48 to 52 days;-Total property sales were up 3.3 percent with 7,750 units sold;-Total dollar volume rose 11.1 percent to $3.1 billion;-The single-family median price was up 1.5 percent to $329,900;-The single-family average price climbed 4.1 percent to $418,903; -Single-family home months of inventory registered a 4.4-months supply, up from 3.5 months last November.

Additionally, the right of redemption only applies if the property was owner occupied during the 90 days prior to the sale and this is not the case here. 

I'm a 30 year old husband and soon-to-be dad in a dead end sales job in Alabama.

Right, seriously, there's a game on Steam called "Tenants" which, I suppose, is a landlord business simulator.On sale now for $17.49.Quick blurb (not trying to advertise for them, honest):Become a landlord and deal with problematic tenantsas you build your rental property empire.

Because of illiquidity and the fact that it was in default and a foreclosure sale was scheduled, it was valued at $21K.

Of course if you are required to pay off the 2% mortgage then your cash on cash ROI goes way down, but with a 30% equity cushion you’re still way ahead.I really dislike contractor for deed, lease option, or not recording warranty deed as “solutions” for the due on sale clause.