Then you will be stuck with a potential rehab project.

If I wasn't certain her story tracked, I would ask for documentation of her 401k balance and her application to withdraw money.

This can lower your tax bracket potentially and you earn interest on the income you would have normally paid Uncle Sam.10) At the close of escrow, move funds outside of the taxable estate to avoid the 40% estate tax on amounts over $11M single or $22M married couple.

Also don’t forget landscaping and general pest control (termites) if applicable.

I have actually been thinkin about cutting losses honestly, I am not sure this is the best investment I could have made as my first but worried about how much of a loss I would have to take.It is meant for S8 for sure, I would have a stringent application process, and give the neighborhood a C from my research.I invested there because it was the first deal that basically fell on my lap where the mentor works with agents that Seller Finance deals, it was only $3k down and had thought the proximity to St.Louis would be attractive to tenants also.I effed up on waiting to post for rent until after all repairs and the COO for sure.  

Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

The advice is downright bad; not applicable to the average Billy & Barbara, some signs of bragging among other concerns.

But doesn't have any property advertising, prospective tenant applications/screening, or any of that side of the business. 

Hi Ethan, I would not entertain the idea of getting more money from this tenant in order to potentially increase your cash flow. 

Once I've completed these initial projects and built up some capital, my long-term goal is to transition into buy-and-hold investments in potentially more affordable markets to maximize cash flow and scale up.Right now, I'm particularly interested in investing locally here in the Seattle metro area.