Purchase price: $58,500 Cash invested: $55,000 Sale price: $155,000 Contributors: Peter Vekselman Partner Driven and Carol Tarnowski teamed up for a transformative project on 14th St, Fond du Lac, WI.

. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

@Serge Hounkponou Recommend you first figure out the property Class you want 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?

I set up a meeting with high hopes that this would be a good way to purchase my first few properties of section 8.

If you are looking to purchase an STR in Hawaii, take a close look at the data.

Anybody ever purchase property out there for flips?

I use a schedule E and do not have an LLC or business name, so can I purchase the vehicle under my personal name and take section 179?

https://www.planning.hawaiicounty.gov/resources/short-term-v... has the details.So with that said, I have had several clients purchase STVRs and have great success. 

Have you purchased a property yet? 

Purchased my 1st rental property last year in Cleveland, a 2unit MFH with 10beds between the 2 units.