@Yael DoronIf you're working with a $150,000 budget and aiming for high ROI through rental income, consider nearby areas around Phoenix that still offer affordability and growth potential.

The lender rep or broker you are working with should be able to walk you through each step so you have a firm understanding of what has to happen in order to get your file to closing. 

Are there any caps on pass-through expenses?

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

My recommendation would be to engage an investment property focused realtor (not a general residential realtor) and let that person guide you through the process from pre-qualification to market/property valuation and selection. 

My walk through estimate was roughly 60k, Hard money was 12%.

Hey Sarah, if the seller has an agent, it’s best to go through them first since they’ll likely get involved anyway.For a property that’s been sitting on the market, approach with strategy.

The best strategy I seem to have deployed so far was to contact all my current tenants and let them know I’d give them a cash referral fee of $250 for anyone they recommend to me that goes through the vetting process and successfully moves in.

Purchase price: $125,000 Cash invested: $120,000 First try at turning a single family home into a duplex while going through the permit process for the first time.

Plan on staying married no matter how rocky it gets, work through it, it's worth it.