PPR is an excellent company and has never missed a monthly payment to my self directed IRA.

@Ilya G.Hi, how much do you need for a down payment?

If you borrow against the equity, you'll need to include that payment in your calculation, as well.You make 3x the average income for Pennsylvania at the age of 32.

You can have an extra large garage on this level, plus some storage, maybe even some covered outdoor living space.

Was asked in a DM what I thought about a specific Self Storage Syndication, so reposting here.Note:  We buy and develop Self Storage. 

If you are looking to fix and flip, just make sure you look for a 12 month term, non-dutch interest on the rehab funds (this means you do not pay interest on the rehab money until you use it), no prepayment penalty, and avoid any lenders that escrow your payments at closing.

(If they are an adult you should have already done a background check on them.) you could also renew them at the higher rate on a MTM term in case the payment issues continue.

You should definitely be able to find decent multifamily properties for under $200k, and multifamily would be my suggestion for starting out if you can swing a larger down payment (depending on loan type, you MAY need 10% more for a multifamily vs a single family, but not always).

I don’t believe a tenant can stay forever, and I can cover the extra payments and lawyer fees for up to two years for the tenant who will be harder to remove.

they probably have a bunch of 3% nonconforming loans on their balance sheet so 5.5% is not bad, totally reliable payments, plus in a legal battle they'd likely find the power of attorney didn't extend to the ridiculous term and that there was no breach of any enforceable agreement.