I've got a property under contractPurchase price $78K out the door (I have cash to close) Intent: build on the property which already has a functioning well, septic, and needs PGE installed Total buildout on the property utilities: $128K including the original land purchase price.

I only purchase direct from owner and no assignments.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

As far as purchase price - I find older homes you can get a much better price on and rehab and still be slightly under market value - and the rent will support the mortgage and expenses.

You may also want to consider purchasing multi-unit properties and live in one of the units.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

We purchased our first duplex on January 1st.

I have purchased both in state and out of state.

3) Any specific states you recommend to set up any of these (Not sure where I'll be purchasing property yet, maybe Detroit, maybe Cleavland, maybe Augusta, maybe Des Moines, maybe Saint Cloud, maybe Memphis...)4) I already have a LLC based in Hong Kong (We call them limited companies, but the principle is the same).

Dave Meyer and Henry Washington shared their opinions on purchasing a deal sight-unseen in yesterday's episode of the BiggerPockets Real Estate Podcast: How to Buy Multiple Rental Properties a Year (Is It Possible?)