Umbrella insurance is crazy cheap for the benefit, and it already requires you max out your liability on your other covered items.

The goal is never just to buy cheap and hope.. it’s to buy right, position yourself for growth, and do it in a way that you won’t be kicking yourself over a couple years down the line.I’m not saying it’s all going to be smooth sailing; real estate rarely is.

I ask for a down payment even if its under 2,500 this is because the customer will often times run out of money once they pay everyone else then hire one of these other guys to finish up for cheap.

They are stuck in 2014 when notes were so cheap and easier to make money: now pricing is tight and even just buying to resell is challenging.Note investing can be more passive than other aspects of real estate but still takes a lot of work as well as a lot of experience and knowledge as there are many moving parts that can go wrong 

Overall, my plan is to get as much equity as I can in this market to then invest in more real estate, then optimize in the end for cash flow.Some background info on me: My wife and I are both 24 years old, each of us make a good living for this area and are fine saving money and living in an apartment with cheap rent at the moment.

5K rent seems cheap for the area so I would continue with that.

If you want the houses to be super cheap look at Midwest locations like Cleveland, Detroit, Toledo, Indy, KC, Baltimore etc......

Cheap hands off legal ADU garage conversions in coastal So Cal start at ~$120k (if all goes well).  

Wood Floors not sealed, tile not properly installed and grouted, cheap flat paint that the tenants can't wipe finger prints or food splashes off, countertops not caulked so water gets behind causing water damages, the cabinets were painted over not replaced the list goes on and on.

If you look at the kitchen cabinets those are the cheapest of the cheap.