Sorry for the tough love, but not buying the above.You & your wife's salaries should cover your expenses, while the income from your remodeling gigs should be saved.Recommend you review EVERY dollar you made and what you spent it on in 2024.

I did not come back to revisit this post from so long ago.I did not buy this property. 

People were falling over crazy to buy anything and driving prices up.

Quote from @Alex Lee: I'm looking into buying a massive fixer upper in New Jersey.

It is a show of faith that you WILL go through with buying the property yes?

Will you continue to buy in that neighborhood with your next purchase @Teslim Salami?

This is especially true if you're trying to buy in the best location possible.

If you really hustle and are smarter than the average bear, you may make enough money that you can buy an investment property.

He told me his accountant told him he needed to buy some real estate to offset some of his taxes.

I make a decent amount of money nearly from my W-2 (over 100k) but still not enough to easily buy another property this year especially if I have to put down 20%.