.: Quote from @Jay Hinrichs:  Good for you too, Jay, for closing and funding so many transactions.

In this type of transaction, there is no investor, only notes.

But as far monthly payment you could easily buy a house in a cheaper location have less roommates and the same monthly payment or the same number of roommates and a lower monthly payment.

Start at a higher price point (not too high maybe 10%-20% higher than what you expect to rent for) then each week lower it just a bit until you get it rented out. 

The instruments needed for the transaction will be state specific which means you should have someone from California chime in with resources who can provide low cost documents (as these will be boiler plate).

If it’s a lower-income rental market, high-end renovations may not justify premium rent.

Further context, I have zero debt, high 700s credit score, one other investment property here locally. 175k in cash available, looking to do DSCR loans or cash and then refinance.Peoria, Illinois- Great need for lower income housing, market appears to have many options.Lawton, Oklahoma- Looking only at extremely cheap properties, as it seems it’s not terribly hard to find renters.

"The man who represents himself has a fool for a client" was said about attorneys, but it could be said about a new investor representing himself in a sales transaction.

They reversed the transaction initiated by the hacker and I can withdraw the money from my account.

It sat for a bit and the price was lowered to 46k so I toured the house and made an offer of 36k after adding up renovation cost in my head.