Seeing two charges for $855 sounds unusual, so it’s worth questioning your lender directly.

Dang that's crazy, sounds like a gift from heaven haha.

You sound like a very smart young man with a bright future.  

Calling a title company sounds easy enough.

So, it sounds like I will be more than okay with about 10K to start @Emanuele Mayer and a nice line of credit.  

Sounds like you took your time to learn before jumping in.

Sounds better than reafco.

Hi all, new here at the forum and thank you all for all the knowledge you guys share…its amazing.I am interested in this question as well as we just got back into this from like 10 years ago, few things have changed for us, and the main one is finding deals with whole sellers, sometimes the price looks good, but once we add numbers we are currently seeing that everyone else in the deal makes tons of more money than us….for instance, we have checked properties now, where we pay closing cost, interest on a portion of the borrowed money, commissions after selling the property, etc and we see 30-40k going out on all of this,  then we barely make a 20k profit or less on a property of 200k …many of the deal we found we barely get close to a 10-15% of the initial purchased price, which to me sounds like a lot of hassle and my wife says that i am getting old and too picky :)i keep saying that ideally we should shoot for 15-25% profit from the purchase price…if i get a property at 200k and the rehab is 50 and everyone else makes 30k then we should at least net out 30k as well.

@Jesse Herndon that sounds like fun and an interesting idea.

It sounds like you have a cushion and some time to do some more digging and hopefully get an idea on what kind of tenants they are.