I think I am getting ahead of myself out of excitement.

I may go ahead and add appliances now since Id need to if it becomes a rental anyway.Is there any search terms or a thread anyone can point me to that can help financially evaluate buy and holds?

This my first time here (BP), and this help me to go ahead with this idea and keep me learning before to make the step to buy.

You have a very difficult time ahead that will not end well.

He already knows he's going to LOSE money if he sells it through a realtor, so if you give him even 1 cent he's coming out ahead.

There is a specific category where you can find many discussion on this topic:https://www.biggerpockets.com/forums/51-tax-legal-...Checkbook IRA LLC is a vehicle which can give you checkbook control over your IRA, depending on your investment strategy it might be good option for you.A truly self-directed Solo 401k option that Alina mentioned above is even better alternative, however it is not for everyone.

Hey Keith McMiller I don’t know the qualifications needed to be an appraisal in your state but if you knew how to appraise you would definitely be ahead of the greater majority of newbie investors.

Congrats on your first purchase... you're one ahead of me!

I would say it might behoove you to establish relationships with lenders ahead of time so you know you've got that part of your team locked down.

I can tell you from an underwriting perspective though, banks are now looking very heavily into when you bought the home, did you buy owner occupied, did you move out early, and refuse you on even a Fannie/Freddie loan if you are trying to buy another owner occupied ahead of twelve months.