@Unal Baris Kancoglu - if it is an easy switch out, probably $8k right now.  

Thanks for readingDavid I would not buy anything right now, I would wait a year or so and see where prices are headed.

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

Welcome to the BiggerPockets community, you're definitely in the right place!

Thanks tons and if this question sounds very immature, i'd say 'that's about right' given how new to this game we are.Thanks again!

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Obtaining the FHA loan is great and you could repeat the process after about a year with the right lender.  

Still very new to all of this and want to do it right.  

The rate is maybe a little better than what you’ll get in a conventional 30 yr. right now, but the terms are worse.

We are seeing great appreciation and stability in the city right now.