Thankfully I got it for around $65-70k under market value based on my analysis, so that gives me a good cushion in case of any issues.

@Rosston Smith  I'll need 12 more units to squeak by (covering my monthly expenses with a small cushion). 

Hey guys, Im Dustin just moved to Durham, NC from Orlando, FL and wanted to get straight into realestate when I got here but things are not the same here as in florida :crying: , I found a deal a few days ago in the wake county area 4bd 2.5bath 2970sqft 3/4acre lot for 225000 the arv was 372000 but when i went and looked at it it was beautiful house but really needed some attention my estimates say about 70-85k of attention which isnt an issue there is still a profit to be made but my HML would only put me to 260000 and theres no way I could pull it off with that kind of difference I thought about taking on a partner but being new to the area I didnt know where to start so I thought I would pop in some forums to gain a little more knowledge so I dont have to pass up anymore deals and ofcourse I need to build up a cash cushion on some smaller deals first.

Is it ok to place multiple offers at one go so as to have a cushion when some fall through?

That extra 5% cushion is also nice in the event you come across unexpected circumstances where you have to give a little.Good Luck,John

Passive cash flow is a great way to cushion your retirement, I like your plan!

Do you have a pretty big cushion of extra money every month or 2-3 time in savings what you feel you need?

I do have access to another $12-15k in my HELOC so that is a nice little cushion if something comes up early on in my landlording. 

I would highly recommend you, once you can afford the down payment and have a bit of a cushion, to go buy a 1-4 unit home and either rent our the other bedrooms or units and live in one bedroom / unit.

Higher car insurance.I want my tenants to be able to have some cushion in the monthly budget.