I know plenty of seasoned investors that pay cash and never bother with appraisals, including me.Saying that, your risk goes up a LOT when you dont have a solid valuation and if you are new and you would be strapped if you had to keep it, I wouldn't recommend doing a duplex.

I am also looking to buy a house next year and I am strapped for cash at the moment.

Hey there, my name is Mat and I new to this forum - a lot of great info here.I am a CPA in Greenville, SC and have been self-employed for close to 12 years.I am not new to real estate investing, but there is always something to learn!

I just recently got a text message from my lender stating that we needed to do another appraisal because there was weren't double straps on the water heater and no smoke detectors.

Hey Felix, Definitely agree with Mat about determining more clearly what you are looking for. 

I've also seen some landlords talking about getting large mats to be used by doors if the flooring is water sensitive. 

Mat,Good comments about making yourself uncomfortable.

First-time home-buyers may be strapped with not one but two student loan packages (husband’s and wife’s), totaling close to or more than the value of the home they want to buy.

C-B class area.Purchased: $785.00rehab est: $55k (including Murphy's law)ARV: $95k-$110k (based on 6 comps)Timeline est: 4-6 mo.i'm just asking if anyone has an idea i could implement or a lender or interest in funding this project to help me get my business moving during this stall. and before the wolves come out of the woodwork suggesting repetitive things lets cover some of my stats.credit: 550 and scarred = normal lending out of question.Friends and family: already tied up in projects or strapped financially.Partners: Have their money tied up for 2-3 yrsCash on hand: $1500 (and dwindling)Assets: $370k in collateral real estate.Flip exp.  6 flips with partners and family managing contractors and deadlines -   0 solo Wholesaling: would turn to small of a profit and it would be better letting it go back to the county.so as we can see my odds are not good but i am pushing and fighting tooth and nail to do this because i know i can complete the project and turn a profit i just need the gas to make this thing go. 

He charged a premium for his service for delaying the payout...he admitted to me that he was "just an average" carpenter...but that this job would only take him about 4 weeks...working nights and weekends...moonlighting from his regular job.He told me that he normally would have only been paid around $10-12k for the work he was doing....but that the owner...who was coming out of his own pocket for this work...was happy to have delayed the payment and therefore did not mind paying the premium...nor did he mind...paying a further premium (in the form of a percentage of sales)...to be allowed to pay out for the work performed.Everybody won...he was payed VERY well for the work he performed (albeit on a payout plan)...the cash strapped owner was happy about the arrangement...he got to payout for the work over time and IF his doors closed, the deal was off...BTW, the restaurant/bar is still open to this day 18 years later...The real kicker...was that the carpenter shared with me that this was the 14th project like this that he had done in the last 2 years...and that although most of the jobs were much smaller than this one...they were all paying him something every month...at about TRIPLE what his normal rates would have been for each project.My question is...why are we ALL not doing business like this?