In times like this, it's really important to work with someone who has closed multiple deals (at least ten), has contacts locally and is motivated by the need to eat.

With mortgage interest rates at 5% they are losing $433/month or, to relate to cash flow, they are eating $433 of their positive cash flow before they deduct any other expenses.

But, you should account for those expenses that eat into your cashflow. 

Dissolved my CA LLC last year because it costs about $1500-$2000 to operate in CA...and when you are getting started that'll eat up a lot of your gains.

You have to be passionate about REI and hustle, have perseverance, live/breathe/eat REI,  have perseverance,  work the numbers, have perseverance and finally TAKE ACTION.  

Also remember if you sell the new home after closing you have agent fees and closing costs which will eat away at your profits.

I started exploring foreclosure auctions for the past year, found a rare opportunity for a house similar to what I'm renting now that needs minimal work, and am in the process of financing for purchase price of $413,000 (mortgage would be less than rent at $1800/month but could flip for $625,000).Because our market is so high and these come by once or twice a year (so many investors here eating up the foreclosures), would you 1. flip right away 2. rent 6 months then refinance and keep 3. rent 1 year rental then sell or 4. live-in flip 2 years? 

And definitely max out your IRA contribution ($5500) each year, even if that means you're eating ramen and pb&j sandwiches while you're young.You can't get a personal loan with your IRA, it has to be in the name of your IRA, which isn't you, and it has to be non-recourse.

I’m just starting out on my real estate investment journey. The only thing I have to get started is a property I’ve inherited that own free and clear with an zestimated worth of 83,000. My wife and I make a combined 9...

If you do not manage the project properly time can eat away all your potential profits.