We're trying to best screen the applicants and my original standard was 3x monthly income and credit scores of 650+.I recieved my first applicant which is a group of 3 (couple and their sister).

A lot of original details still remain but looking forward to uncovering some goodies.

This is my first investment of this sort and it has not worked out how I originally intended but I am learning from my mistakes and will be making better decisions in the near future What made you interested in investing in this type of deal?

@Ryan DeRobertis Curious to know if you made it down to PR and what you may have learned since this was originally posted.

I made a relatively low offer and after one negotiation we settled on a price that was about 45% lower than the original list price.

They remain whatever the original borrower has.When you use typical financing from a lender, you have the lender's hoops to jump through and loan origination fees, the appraisal has to come in at a certain number, oftentimes an inspection or appraisal will kill a deal. 

I'm originally from Nebraska (Omaha/Lincoln) where most rentals still pencil out, so I have been looking there.

My markup is always lower than the original lender's because I don't spend money advertising during the Super Bowl, my president doesn't have a corporate jet, and we don't have layers of management we need to pay.

Originally posted by @Anton Ivanov:@Brandon SturgillSure, I'll send you a pm.

Quote from @Devin James: Quote from @Dominic Mazzarella: Quote from @Devin James: Everything went wrong with this investment:   - Took 4 months longer than expected   - Cost $10K more to build than we anticipated   - Sold for $20K less than we anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.Here was the original post:My siblings and I are building a home in North Port, FL.Here are the numbers: - Finished Home Value: $412Kish - Land Cost: $19,750.39 - Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!!