It can be overwhelming making such a big decision with little connections/expertise in this arena.My interest is primarily in residential dealings in the Triangle/Triad area, but like I said have a soft spot for the investing side as well.

The remainder being built is mostly income-qualified = lower profit and not much motivation without a lot of "free" money.2) Soft costs like permits, fees, SDCs up to about $25K/unit.  

Since the tenant pulls it, the report is a soft pull and therefore doesn't negatively affect their credit score.Regardless of which service you use, how you analyze the report is most important.

An FHA 203k (or Fannie Mae's companion program "HomeStyle") are (IMHO) great options for buying a fixer.You can write an as-is offer (which may give you some negotiating leverage on a fixer) and finance all of the renovation costs in with the purchase.Your down payment is based on the "acquisition cost", which is the aggregate of the hard and soft construction costs (actual bids + permits + engineering + design +renovation related loan fees).These loans do take some extra leg-work on the front end.

What are you expecting to do for $120K and how much does Cicero charge for soft costs and then the tax adjust?

@Alex Jamael when it comes to long term tenants there are the rules, and then there is the personal soft skills part of managing.

You can use a recent credit report they pull, or find someone to do a soft-pull that doesn't affect score (as much).Without knowledge/experience, you might as well throw a dart at a list of stocks and invest there. 

@Paris Capers how did you arrive at your soft cost numbers.

Remodeled kitchen (redesigned layout, farmhouse sink, painted cabinets, quartz counters, soft close doors)Painted all trim and doors white; repainted wallsRefaced the fireplace to have a stone feature.

I assume this was a soft inquiry, and my credit score is in the high 700's.I heard nothing more until May 25.