Most of our loans are fully amortized and those that aren't, are 10 year balloons where we'll have more than 50% equity (at the purchase price) upon loan maturity in 2030+. 

So it was 153k for the purchase and 40k for the rehab, I had to come up with the rest. 

@Rory DarcyRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.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 property in Class D area to Class A standards, what quality of tenant will you get?

Sister starts to dance and trips and falls.

However, if you’re open to purchasing an investment property before your primary residence, you could likely qualify for a DSCR loan.

I’m a new investor who purchased my first rental property this past year, and I’m eager to learn and grow my portfolio.

So far I've owned the place for 4 months and have not had any issues with my tenant yet.Am I Happy With My Purchase?

The more that you talk the more potential buyers see what they are dealing with.Lori you purchased a property that was occupied.

Congrats on your first duplex purchase!

Purchase price: $98,500 Cash invested: $15,000 owner financed on duplex, bought from a friend of the family. hopefully many more to comeHey @Jeffrey Eschbach, welcome to the BP Forum!