I am from the Chicago area and looking to purchase my first property in the next 3-6 months. 

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

Purchase price: $245,000 Cash invested: $80,000 I served as the buyer's agent acquiring this property.

If somebody sues the buyer, I want seller and tenant both stuck with the words in the Tenant Estoppel Letter, and not able to testify to anything different.The exact wording of the Tenant Estoppel Letter should be negotiated between buyer and seller as part of the Purchase Agreement negotiations.

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

I'm a fan of using the HELOC to help purchase new property.

Once I was deployed on a submarine in the North Atlantic and they helped my wife with a 1031 exchange on the sale of a home and purchase of 2 other properties.

I have never purchased anything 'perfect' but all of my rentals could have been rented as they were upon purchasing them. 

Also, important to confirm they will be warrantable condos for end buyers otherwise it will be very difficult for end buyers to secure financing and thus purchase the units. 

Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.