If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

Did you purchase this property all cash? 

So you wouldn’t get any depreciation on your new purchase assuming you only spent the $450k.

I have purchased many properties without a tenant in place.

@Grace Solano , congratulations on your purchase in Queen Creek, AZ.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

Hello everyone,I am based out of Vancouver BC Canada.  I have some business and commercial real estate in Vancouver area. Now I am looking to the US market as I believe my Province has priced me out.  I am open to any...

My current purchase (closing in February) is a luxury cabin that will be an STR.  

Purchase price: $900,000 Cash invested: $15,000 6BB/3.5Bath 4000sf on 3.4 acres near several wedding venues.

Purchase price: $205,000 Cash invested: $60,000 This was the first property I purchased.