I bought my first house lived in it for 3 yrs sold and made $35,000.

HiJosh orange county California. married 2 kids, 39 yrs. when I was about 24-25 I went to a real estate seminar in my area-bought a sfr in Syracuse Utah in early 2006. had about 4-5 different property managers and struggled with the property. the 2008 recession hit and I ended up selling it in sep 2009.

I grew up in Northern Indiana and have lived in Indianapolis for 7 yrs.  

(in case you don't think so, they were the richest country in South America about 20 yrs ago!

That's to get a loan usually 30 yrs in term on a p/i basis + your taxes+ ins.

Bridge loan, 3 yrs I/O, 80% LTC, 100% Cap Ex, Floating Rate Libor + 295 bps How did you add value to the deal?

Rate is higher for investment property, and fees are also higher....but to me conventional loan for investment is still the best rate that I can lock in for 30 yrs...so I am ok.  

I did borrow from my 401k instead, amortized over 15 yrs so the payments are light, and only took out 30% of the max allowable loan amount.

After title search, the 4 acre lot and the house (40 yrs old below average condition) both are under a re-financed mortgage the owner took out 10 years ago of $335,000.

@Natalie Kolodij if one qualifies as Real Estate professional in 2020 and has significant net operating losses, can these be carried back to the prior 5 yrs to offset active W2 income even though one was not a real estate professional in years 2019, 2018, 2017 etc?