Even introducing a moderate amount of debt and purchasing another, OR exchanging out of the existing into a larger higher yielding property type with some debt.

Purchase price: $85,000 Cash invested: $33,000 Cash flow is after all expenses including vacancy, maintenance, and capx deductions.

When Trying to qualify for a traditional loan, lenders usually price your purchasing power at 3x your net income.

The purchase cost is on average $350k - $450k.

Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.

What was the purchase price of your property?

I understand the concept insofar as if I'd purchased the property, the basis would be what I'd paid it.

Quote from @Kyle Harris: I'm a new investor and looking to learn as much as I can this year and hopefully make a purchase on a multifamily unit by the end of 2025.

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

Here’s the context:The house appears vacant, with a large tree that has fallen on the property.From what I can see, the house seems full of furniture and might even be a hoarder home.I’ve skip-traced the property and found that the owner has unfortunately passed away.The house seems to be mortgage-free, and I’ve identified three phone numbers associated with the son, who I believe is the heir.I’d like to reach out to the son to express my interest in purchasing the property, but I want to ensure I do so respectfully while also gathering the right information.Here are my questions:What’s the best way to approach the heir while showing my condolences for their loss?