I would buy a fixer upper and rent it out.

This means that someone who makes $43,000/year would now eligible to buy this room condo, and have access to a vehicle through which to build equity in an asset as an alternative to paying rent. 

You'll get to a point where you can say "no" to prospective owner clients who are not within your "buy box" per-say.There's been a lotttt of money dumped into PM to fundamentally change the experience.

We aren't the traditional flippers who run in, throw up a lick of paint, hide the disastrous side of things and essentially trick people into buying a lemon.

They are sure cheap to buy and build up.I thought of building a place out of a part of a 747.

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.  

My 2 cents but I would rather buy it and put $60k and finance the $240k at 7% than $175k at 4.25% and have to deal with a wrap etc. 

.- **BRRRR (Buy, Rehab, Rent, Refinance, Repeat):** This strategy can be lucrative, but it requires careful planning and execution.

I already have a hand shake deal on the next property, another duplex, that I will buy come summer time.  

Buy on market, nothing wrong with that.