I have helped many new investors purchase their first property in Memphis and LIT.

That someone is going to deliver to you, on a silver platter, a property purchase you can simply say "yeah, sure, I'll take that" where you do some paint, carpet, little cleaning and tidying and turn around and clear a $100k? 

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

Makes complete sense to purchase a property that breaks even or loses money.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

If you have any questions shoot me a message and I can walk you through the process.

I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.

Equity earns 0% interest (inflation will destroy your purchasing power) your real estate investment will Appreciate or Crash regardless of how much down payment you put on your home.