I paid $165,000 for the 1600 sq foot home and I'm assuming I will have to put at least half that much into repairs as there is severe damage to floors and walls as well as black mold.

We've sold 65+ homes and the biggest request we get from our Buyers is help with closing costs.Most of our deals we're providing anywhere between $5K-$10K to help Buyers offset the cash requirement to purchase a home.Even in today’s "high" interest rate environment, many Buyers prioritize closing cost assistance over an interest rate buydown.

Regardless of how you financed your rental property, you can generally deduct repairs and take advantage of depreciation schedules.

Say 50% of that goes towards repairs/maintenance/vacancy etc.

Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

Also make sure you have enough $ for down payment and repairs etc.

Someone to stock supplies, an appliance repair person, heating/air conditioning repair, plumber, lawn care person, carpenter, salesman, and occasionally an electrician. 

Although you cannot sell real estate without a license, you can learn a lot by assisting an agent, shadowing client appointments, etc.

She no longer buys warranties because she has found the repairs are often shoddy and slow.

If you need further assistance, you can reach out to [email protected]