If you are coming in with 235k, you probably would not need much more, if any, to make the purchase.

I currently live in Phoenix, AZ but I'm looking to purchase land and put two prefab homes on it with my business partner.

However, due to keep purchasing real estate, my DTI is high and close to 50%.

So I sat on the sidelines being very impatient.While I looked for deals of 8 units or larger in Wisconsin, Michigan and Indiana I let my cash build up.

My first purchase btw. 

I wouldnt give any consideration to what the seller needs in order to break even in determining the purchase price.

Purchase price: $499,990 5 bed 3 bath split level house in Hyattsville, 1875 sq ft

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

Hey everyone, I’m trying to decide between purchasing a single-family home or a multi-family property for my first real estate investment in Detroit, and I’d love to get some advice.