Hi Ella, welcome aboard,Your post about your real estate ambitions, encompassing the purchase, renovation, and sale of properties, as well as the ownership of Airbnb rentals, is indeed an exciting endeavor.

Look, we’d all like to search the internet, find a deal for sale, analyze the property as having a great cash flow at current interest rates, with lots of upside potential in a gentrifying market.  

We are not currently under any sort of contract and we just found this thread through a google search on Lendbase.We are currently working on a construction loan to develop some residential lots, assumed the Mortgage Broker would be on the up and up... had some sales-ey call with a guy out of Utah. 

Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.

Last year I bought my first property at a foreclosure sale in Dane county, a small 2 bed 1 bath condo on the east side of Madison.

Once I was deployed on a submarine in the North Atlantic and they helped my wife with a 1031 exchange on the sale of a home and purchase of 2 other properties.

Purchase price: $70,000 Cash invested: $60,000 Sale price: $70,000 Have under contract for $70K and will rehab.

Purchase price: $185,000 Cash invested: $5,000 Sale price: $220,000 Occupied by my in-laws.

Assumptions (the lender is involved in the process and it goes through underwriting like any other loan)   A new deed of trust with right of foreclosure including Due On Sale is typically involved.

20 townhomes sounds like it would be sales, but I don't like to assume.