As mentioned above it there are dozens if not a hundred+ small items that are easy to forget that guests will expect you to have (can opener, wine opener, oven mitts etc) 

But, know what you want to accomplish beforehand.Creative Finance is a great way to buy properties when done properly and lawfully. 

Most commercial lenders do not require any seasoning for that entity which means that you can create an LLC and use that entity to purchase the property immediately as long as you have the proper documents.

Its easy to get wrapped up in wanted to learn everything, and it ends up in people losing sight in what their original goals were from the start. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Structuring the agreement properly, outlining how profits will be split, who covers the rehab costs, and what the timeline looks like can ensure the seller feels confident in the process.

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

It's properly leveraging (not over leveraging) the asset that pays off.  

@Evan Coopersmith penny-pinching is an easy way to crash.