I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The "typical" off market seller is someone who thinks their house is in too rough of condition to sell on-market, but doesn't have the money to fix it themselves.  

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

Older homes will typically have systems that are out of date - even if only partially. 

We've worked with local banks and been able to finance the three we own without any issues.I don't necessarily know if it's "beginner" investor friendly but you'll learn everything you need in the bootcamp which is the gold standardWe get loans with 3-7 year balloons and 25 year amortization typically

I accept the need for a competent PM and the reality that competence typically ain't cheap.

Thanks,Harish. this would be typical of a larger commercial transaction.. what you can do is pay the appraiser and the Phase one company direct.. its usually done that way.

While I don’t typically work with real estate agents to find deals, I do collaborate with other professionals throughout the process.