Purchase price: $415,000 Cash invested: $90,000 MY FIRST RENTAL PROPERTY !!

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Quote from @Chris Hertig: We recently purchased a multi-family property and have someone living illegally in an uninhabitable, detached garage. 

Purchase price: $515,000 Cash invested: $960,000 Sale price: $1,850,000 New Construction development, What made you interested in investing in this type of deal?

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?

However, a multifamily purchase could work quite nicely. 

Purchase price: $260,000 Cash invested: $120,000 Sale price: $535,000 Complete gut, new front and rear walls, all new electric, HVAC, plumbing, roof, deck, windows, interior What made you interested in investing in this type of deal?

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

Purchase price: $5,000,000 Cash invested: $1,450,000 Complete combination and gut of two lofts side by side resulting in a 4,000 square foot home.

What was the purchase price of your property?