Risk Assessment: Consider vacancy rates, potential repairs, and unexpected expenses.Once you're comfortable analyzing a few deals, you’ll be in a great spot to pull the trigger on your first property.If you need help with financing or want advice on what options might work for you, feel free to reach out.

Be prepared for things like carrying costs, permits, and any surprise repairs that come up.

The repair work was estimated at over $10k, including foundation work, so I used the escape clause that their contract had in it.

Or to pay for a repair, you can’t provide it, you can’t borrow it, etc etc.

I'm also making the assumption (which i would have inspected) that no "major" structural repair is required.Home ListingBP Fix & Flip ReportRehab Estimate Report

If you need help finding off-market properties, and learning to analyze the cost of repairs I might have a resource you might find useful.

I self manage one local SFH and I go over there when the tenant needs repairs.  

This wasn't just time, it was constant repairs and handymen visiting the property and fixing things over and over. 

So they could give a better idea of costs for repairs as well as new furnishings etc. that may be required.

I do fortunately have room to absorb that loss, but with increased taxes, insurance, and maintenance/repairs starting to get reeeeally thin on the margins 😬