I am interested in purchasing a new investment property and have been pre-approved for up to $700,000.

The first purchase is always a huge learning experience.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

Purchase price: $417,500 Cash invested: $37,575 We weren't super happy with anything we were seeing on the market, so my husband and I had just started writing letters and looking off-market... until we saw this property.It'd been sitting on the market for months, originally listed around $550,000.

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

Can you give more details on your numbers, purchase prices, rehab costs, time to complete rehab, ARV, monthly rent?

Hey everyone, I’m trying to decide between purchasing a single-family home or a multi-family property for my first real estate investment in Detroit, and I’d love to get some advice. 

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

., ones that are almost rent-ready, and finance the remainder of those purchases with DSCR, etc.?

I've found an off-market property that would require $175k purchase, $35k down, $20k in repairs, with a conservative ARV of $235k.