This forum is making me breathe a little easier with the decision to not only buy one, but two in less than 3 months! 

The contingency offers financial breathing room.Maintain an Organized Budget Tracking SheetUse a spreadsheet to track estimated costs versus actuals across all rehab categories and tasks.

Yes 2020 was a breath of fresh air for my turnkeys, finally. 

As of now we are compiling folders full of our information which we plan to take to the streets in order to find local smaller banks who would be willing to give us a shot, in the same breath i am also looking to build relationships with private money lenders and hard money lenders in a bid to get our foot in the real estate door.Have to admit we haven't been involved in the networking side of things, we understand it's a fundamental part of the learning process and the building of bridges between the community, only for the fact of not being educated enough in the knowledge of real estate to be able to really give something back.As of now we feel more confident in our goals and the path we would like to take.Are we on the right track?

But you may put your new property under contract at any time before you consummate the sale.This also brings into play the idea of using contingencies on both sides to give yourself some breathing room.Most of our clients purchasing larger properties will always attempt to complete as a regular exchange but they will keep a reverse exchange in their back pocket in case they have to close the new property before the old property or properties sell.  

This will give you some breathing room if financing seizes up in a couple of years when you are trying to refinance. 

This path was hard after the great recession when foreclosures were rampant, so don't hold your breath. 

Ran out to the properties and hustled anytime I have a minute to breathe.

Either take the rest and the saved rent and go bigger after that or, depending on the market conditions, sell it and buy what you really like.Live and breathe it, go to meetings, talk to people, walk properties as much as you can while you're learning. 

I'm not holding my breath.