Develop a Financial Plan: Determine how much of your equity you're comfortable investing and create a budget for your real estate ventures.

They'd be the first to tell you that they don't want you getting into a deal that you don't understand or aren't comfortable with.

@Patrick Goswitz  Assuming you're comfortable with the buyer, and you own the property free and clear, a lot comes down to what are you going to do with the 100k?

And you also have to jump through a lot of permitting hoops and redtape, depending of what you want to serve: take out, dine-in, beer&wine, liquor - all different licenses.

However, it looks like to the left it connects to another room (maybe the living or dining room) if so, I would see if it was load bearing and maybe take down that wall and make it a little more open, probably put an island where that is.For the outside, it mostly looks like it needs a new paint job, fresh grass, and some pressure washing. 

Currently, living room and dining room is one large space (open layout). 

And not enough space to comfortably fit a dresser in the bedrooms.

Understanding and educating yourself on the advantage of different forms of financing is an excellent way to get started and feel more comfortable about the process.

I am a repeat founder and data nerd eager to build a new venture in the investing/data space.I was hoping some (or many) of you would be comfortable sharing pains in investing that you wish went away.You know, things that are so frustrating that you'd pay to have them stop. 

I am a repeat founder and data nerd who is eager to build a new venture in the investing/data space.I was hoping some (or many) of you would be comfortable sharing pains in investing that you wish went away.You know, things that are so frustrating that you'd pay to have them stop.