Quote from @Brian Joseph OConnor: I closed on my first deal back on 10/16/24 so I'm a newbie. 

Since you're purchasing it under market value, you shouldn't have an issue getting it appraised at $145K.The seller would net $140K and the additional $5K would be seller's concession towards broker commission and closing costs. 

I am new to real estate investment and planning to start ramping up long term rental properties in 2025, however my first two primary residences were both converted into MIL's and rented within months after closing which effectively followed the House-Hack tactic (we currently rent our furnished basement to primarily traveling nurses for 3-6 months at a time which covers 70% of our mortgage).

At 20% down plus closing costs and working capital, you’d be looking at about $40,000 to get started.

They will also be able to handle any closings/title work.

Assets identified in this study include:Infrastructure and Site Utilities: signage, site lighting and utility sinksLand Improvements: sidewalks, landscaping, fences and parking spaces50% of the total depreciable basis was classified as 39-year class life.

I didn't walk the house prior to making an offer and prior to closing.

Our ability to act quickly and decisively ensured we could close the deal efficiently, making it a win for both the seller and our team.

This project is still in the "funding" phase of the syndication but has been secured by us.We also closed on another equity project for a 112 unit building not too far away.

It’s has hardwood throughout, fenced yard and screened patio, great school district etc.