I have been looking at it, but have not pulled the trigger on the course.

I checked out ab968, looks like pre / foreclosures might be a good way to go if I can find them. thanks everyone for the responses, really great info. im actually starting to see more deals on properties in need of renovation so I’m hopeful I’ll be able to find some good flips when I’m ready to pull the trigger  

This could trigger the FHA 100 mile rule however with a few exemptions.Indeed, FHA allows you to put 3.5% down payment to invest in 1-4 units.

But we just can’t pull the trigger on anything.

The main reason I'm asking this, is to understand how much cash I need to save up in reserves before pulling the trigger on a deal like this?

This allows you to invest in real estate without triggering the 10% early withdrawal penalty or income taxes, and the gains can grow tax-deferred (or tax-free in a Roth IRA).

Your "buy in" funds could potentially be used for improvements to the other properties you mentioned, without triggering a taxable event.

Quote from @Jon Taylor: @Pete Harper - Section 721 of the Internal Revenue Code allows an investor to exchange property held for investment or business purposes for shares in a Real Estate Investment Trust (REIT) without triggering a taxable event.

@Brandon Brock I understand that the price is high, I wish it had been cheaper but I will say that I am glad I signed up for a couple of reasons.1) There are a lot of garbage notes n the internet, having seen some of the offerings that come through Eddies group I have something to compare against.2) I have had a few specific questions and been able to call someone and get a a straight go/no go opinion on a note that has probably saved me more then the price of the class already.3) I could have read books and threads on BP but I think it would have taken me longer to get to the point where I would be comfortable pulling the trigger on actually buying a note.

In April 2024, I finally saved enough money and pulled the trigger.