While I don’t typically work with real estate agents to find deals, I do collaborate with other professionals throughout the process.

I was thinking about doing real estate sales on the side as a sort of part time hustle while I'm in school and working my w-2 but that's great to know.

Older homes will typically have systems that are out of date - even if only partially. 

Most DSCR loans come with a prepayment penalty that is typically 5% for the first year, 4 points for the second, 3, 2, or 1 pts for each year.

The $380K insurance payout is typically not taxable if used to restore the property.

Sale Price$171,000 - $55,000 (Rehab) - $13,680 (8% fees) - $40,000 (profit) = $62,320 MAOFrom talking to other investors and doing research, typically a Novation allow more money to the seller, correct? 

@Ezra Avery you might want to read below to understand Classes of Property/Tenants.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

The "typical" off market seller is someone who thinks their house is in too rough of condition to sell on-market, but doesn't have the money to fix it themselves.