I think that rehabbing a property is no small feat, especially if you're trying to maximize your budget.

Have a clear budget and stick to it.

While time consuming, I did learn a lot and was within $2,000 of my initial budget.

Generally as a new fix and flip investor you would want to target cosmetic projects that do not require an extensive rehab budget.

Budgeting?

I remember working with a friend who inherited his aunt’s home.. he got so caught up in the emotional side of it that he forgot the nuts and bolts..like having a good plan for the renovation budget and timeline.

Be conservative on your rehab budget, rehab timeline, holding costs, etc.

With $50K and a DSCR loan, your budget will likely cap at properties in the $150K-$170K range, depending on the closing costs and any repairs needed.

It would be a tight budget but I do have money set aside for repairs.

To start your journey, I recommend focusing on building your network by joining meetups and engaging in online forums, while narrowing down your first investment based on your budget, market, and goals.