Every time you lower your tax bracket you are lowering the value of the deductions.

Purchase price: $270,000 Cash invested: $54,000 A multi-family upper/lower duplex in Ankeny found off-market during COVID.

These are usually lower income areas, and you must understand the quality of tenant you may get.

Proceed with caution and make sure you create enough room for value loss.My client recently had this issue and I told him only way to take this is if seller repairs it and lowers price significantly for value loss.

Since your dad is a contractor with access to affordable labor, the renovation costs could be lower than average.

With how much equity you have in your primary if it was me I would think about doing a cash out refinance for the whole thing as rates would be lower.

Ohio has lower property prices, strong rental demand, and better cash flow, making it ideal for BRRRR.

As sellers realize that buyers cannot pay the same price for the same income stream as before due to the higher rates dampening overall buyer returns over that 6-month market cycle, sellers will eventually transact at lower prices, making it more apparent to sellers where the current market pricing is.

From what I've seen and read, most of the reason operators get in trouble is that there is some type of "event" that has occurred (usually their loan has matured or they've defaulted on their existing loan) and they need to refinance their loan and the lenders require a new appraisal to be done, which usually leads to a lower appraised value, and a lower loan amount, which "forces" the owner to pay down their debt.

With $15-20K liquid, focus on lower-cost Midwest markets where down payments stretch further.