Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

The last few years have been great for investors/homebuyers who bought pre-con, but looking back to the few years after the 2014/15 boom, this wasn't the case, where many had actually committed to buying a property that wasn't quite worth what they signed up for closer to closing because the appraisal weren't matching the contract price, requiring a cash top-up.

What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

The required POS inspections become one added layer to closing a deal, but as you’ve seen, some properties come with completed POS, while others require repair escrows that can add up to around 10-20k. 

House hacking isn’t passive income; it requires time, effort, and a willingness to handle problems as they arise.### 4.

., as Chris noted, the required documentation will be outlined in the LP Agreement you signed.

An office/in-person audit would require a face-to-face meeting, which you could request to have your CPA present for.

What are your requirements?

Furthermore, going direct to seller requires patience and people skills.

.- Creative Financing Solutions:Options like subject-to deals, seller financing, and syndications can lower capital requirements and increase your purchasing power while providing flexibility for properties with complex financial situations.4.