Some serious baked in costs for each. 

We arranged closing during a slower period of time & had him leave everything (furniture, inventory, guides, etc.) literally bought it & could start taking booking the same day.

I was in a leased building, counting on a hand-shake deal to buy the property in the future.

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?

I only bought sub to if there was enough equity day one to either flip with no work or there was margin to do a rehab and then sell..

I’m reaching out with an investment opportunity in a real estate flip project, and I’m currently seeking a limited partner to join me.With a strong track record of successful real estate investments, I am looking to partner with someone who shares an interest in capitalizing on the potential of this market.

I’ve invested in property in Vancouver and Toronto but have recently decided to take the plunge into the US.

Consider this scenario;You reach out to the tenant and decide to move on, you give them 60 days to move.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

My problem is that I have been looking in my hometown because I thought I wanted my first property to be close by to make it easier at first, but I am thinking I need to look in other markets.