I have purchased many properties without a tenant in place.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

The best I've seen for STRs is 80LTV on purchase and 75LTV on cash outs. 

CA RE Broker ( which I have) standard state MLO and NMLS  and Consumer finance license.

My question is do I go forward with purchasing the property and deal with the higher insurance and potential hazard or is it smarter to walk away?

@James Boreno You’ll likely owe taxes, but don’t forget to account for your adjusted cost basis, which factors in the original purchase price, depreciation over 10 years, and any capital improvements.

Purchase price: $68,000 Cash invested: $70,000 Sale price: $195,000 I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays.

My first multifamily purchase was my 34th acquisition and my first multifamily syndication was my 103rd acquisition (and wasn't my second multifamily purchase, either).

I currently own one property, and I’m planning to purchase another.