ARV 690KSelling Price 500kRehab 85kAfter closing costs, points, hard money, lender fees...

We want to purchase a small rental property to get us started close to our home and are open to any advice we can find.

Shiloh, the poster above, seems to find investors and I don’t think he has to offer a discount (most people trying to partner on a property are probably finding properties that are selling for close to retail and then they seek partners with whom to purchase the property and therefore don’t even have a chance at offering a discount since they don’t already own the property as I do).

For one, private money lenders are much quicker—I've seen deals close in just a few days, which is a lifesaver for time-sensitive projects like real estate flips or urgent business needs.

Tenant estopple is a great place to start while you are in escrow, if you have closed escrow and did not do this stuff, you cannot backtrack.

This property flooded again, about 20 days after we closed on the sale.

Account Closed Thought of interning at a title company or attorney's office who ever handles it in your area? 

Check with your lender about any owner-occupancy requirements tied to your mortgage.Market Analysis: If you plan to rent it out in the future, take a close look at rental market trends in your area.

We asked the owner if we could start painting the house before the closing date...

@John Friendas  it's close to the 1% rule which is good, but I would still run the financials on it.