A lot of wholesalers lock it up at 75% - repairs and then try to move it at 80% - 85% - repairs.

I just closed on one for that last week and it appraised.Under contract at 223k with seller paying 5k in closing.The property needs 20k in repairs. 

Working with a private lender can indeed come with challenges, particularly regarding qualifications and funding structures.For your cosigner, they typically will need to be a member of your LLC and the private lender will want them to hold 51% - depending on lender of course.Compensating your cosigner fairly is based on what both parties believe is fair.

I’m in Ohio, so I can purchase a property with $40k cash out, invest $10k in repairs, and rent for a couple hundred above the monthly operating costs.

@Paul Washington Below are the meets ups I typically go to.IMPACT Grapevine - https://www.meetup.com/DFW-REI-Network-Investing-Meetup/- Started in Bigger Pockets this group meets on the 4th Monday of each month.

Quote from @Don Bessette: I have a 30 plus year tenant that can not keep up with maintaining their unit, it is filthy inside and in desperate need of renovation, all systems are in good repair and I respond very quickly when issues are brought to my attention.It is also well below market rent, and they struggle to pay the current rate.Looking for suggestions on how to gently proceed with the notification to move. 

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The key is ensuring the after-repair value (ARV) supports refinancing to pay off the initial funding without overextending.Fix-and-flip - This requires sharp numbers and market knowledge.

The current rents are really low because the tenants are responsible for doing any and all repairs on their buildings (which in my opinion contributes to the poor condition of the buildings). 

As a PM, I'm authorized to make emergency repairs without owner permission.