15 year fixed mortgages are very underrated a 200bps spread is enticing as well as lower transaction costs.  

Quote from @Conte Cuttino: Property is in C+ area but in a different School district that’s B-If I sale I’ll get 30k profit after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

Purchased a property that needed some work and on the lower end of the market so homes were sitting.

I just know I don’t have the knowledge yet to find a deal and a lower price point is appealing for sure.

Currently doing 3 renos, having an EDEN inspection today that will pass and closing on two more Friday, again all from OOS. 

@Kyle Carter just because a building has all section 8 tenants doesn’t necessarily mean that the cap rate will be higher on exit but it might attract a buyer(s) that are focused cashflow and not appreciation; therefore a lower price to juice the yield.One of my non negotiables if I were you would be to only buy in an area that is desirable.  

Stay focused and close on the property, do not let an out of the blue crime destroy a future REI and cash flow. 

Now IF you have all those bases covered, my tips are: Take GREAT pictures and for the love of all that is holly please no close ups, wide angel pics.

Ask if you title company can do a double closing and if they know what assignment of contract is.

My goal of refinancing was simply lowering our monthly spending to reallocate towards future investments.