Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Ask for a line of credit.  

• Is this a better strategy than using your own name, capital and credit to start out?

We also require that we be added to the contractor's insurance as Additionally Insured, so we're covered if they cause damage or liability issue.3) If the property is occupied:- One of our people MUST accompany their person (and we charge for this). --- We were sued many years ago, along with the owner, because tenant claimed owner's contractor sexually assaulted them!

Crooks know properties advertised for rent are vacant and easy targets.Now, if your PMC decided to do self-showings, they should have also taken responsibility for any resulting damages.

Plus, there was lots of damage in a short period of time from those instances.That's okay because I have great support from my property management company, PPMG.

@Travis Gutting Open a prop stream account, fund it with some skiptracing credits and go to work!

You have to put 5% down vs 3.5% down, rates are usually higher, but if you have strong credit, your PMI cost can be cheaper than that of FHA loans. 

It was a personal referral, received a credit at closing for renovations as well How did you finance this deal?