There are drops in other areas including big cities and rural areas and areas that are losing population. 

I never investigated further.I always questioned his recommendations because at the price/rent point he was advocating, the maintenance/cap ex would consume too much of the rent unless actively self managed.  

Initially they balked, but eventually they relented* We kept our inspection contingency to void (not negotiate), and included a financing contingencyHow did you finance this deal?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

These can be further broken down into lender closing costs and third party closing costs.Thelender closing costs can include underwriting fee, processing fee, funding fee, origination fee, credit report fee, and tax service fee among others.

I’m eager to learn the process and take actionable steps.I’m particularly interested in acquiring land and identifying creative ways to add value, whether through flipping, owner financing, or long-term holds.My long-term vision includes owning rental properties, possibly starting with a multi-family home where I can live in one unit and rent out the others.I’m also exploring opportunities in modular housing and small community developments to fill a growing demand for affordable yet modern housing solutions.Outside of real estate, I have a background in auto detailing and entrepreneurship, which has taught me the importance of quality, attention to detail, and perseverance.

If you’re using a hard money loan, ask your lender for a pre-approval letter to include as well.

Wholesaling and flipping is going to be a lot more time consuming and active type of investment where building a portfolio of rentals can be a lot more doable while also working full-time. 

They are doing a similar thing in multiple cities, including OKC.

Quote from @Renee Pohle: Please talk to an attorney and create a strong partnership agreement that includes a method for parting ways.