Also remember 3.5% is your down payment, but you will also have closing costs and prepaids which might add to that number.#5. 

Fast forward three years: He’s moved out, and the property now nets him close to $1,200 a month in profit after expenses.

A broker's track record and their ability to close deals successfully should be prioritized over the highest offer.

I know, there are plenty of red flags there, but I do believe it is worth the risk when I consider how happy it makes my wife, how life-changing it will be for the family, how minor the financial impact will be on me, and how it gives me the opportunity to practice the steps of real estate investing with forgiving tenants.Finally, I am going to attempt to self manage as nothing comes close to cash-flowing if you include PM costs.

Our focus is on delivering 20 top-tier leads each week, so you can spend less time on lead generation and more time closing deals.If you’re interested in streamlining your lead flow and enhancing your success in the Texas market, I’d love to discuss how we can work together.Looking forward to your thoughts!

Also, I'm not sure why you'd want to buy close to the station, as that would probably one of the worst places where you could buy IMHO.Hope this helps.

Of course, nobody wants to be the test case, but I've never heard of IRS treating money from a loan as income, ever.I think you would be better off with a long closing date on the purchase and sell your exchange property fast so you can do a conventional 1031, receive conventional financing with one set of start up fees/costs, etc.

@Joseph Pelensky It does not appear you will have the required closing costs needed to purchase a $700K building through a refinance or sale of your $285K duplex.

When you buy the property to fix&flip, you always add Realtor fee as part of your closing cost to calculate the MAO.

I recommend you evaluate deals close to home and be ready to buy when you find a good one.