If we buy right, how much is too much for a first timer when it comes to risk alone? 

I would like to account for big improvements too althought instinctively i dont think i want to buy a property that needs any crazy upgrades off the bat.

@Jordan Lisnow Did you end up buying the seller financed property in Florence?

Quote from @Ian Hutton: Quote from @Jay Hurst: Quote from @Ian Hutton: Hey everyone thanks for the feedback, I did forget to mention I plan on buying more properties (which is why I’d like to reduce my debt) let me know if that changes any answers, but sounds like paying off the 88k 6.4% interest is the way to go  If you plan on buying new properties do not pay off any debt.

Another option would be to find someone to buy it and do a lease option contract with you.

Staying liquid and ready to move on a deal when the right one comes along is always a good approach.If you're looking at buying, I'd focus more on long-term fundamentals over short-term speculation. 

Investment Info:Single-family residence buy & hold investment.

If they buy something for your property and you pay them back, it’s just like you bought it yourself—so you can count it as an expense in your bookkeeping.If they don’t get reimbursed, then technically it’s a gift/donation, and you can’t deduct it as an expense.

Investment Info:Single-family residence buy & hold investment.

Question:2 If we plan to buy a second property 1 or 2 years down the lane, how would lenders approach the underwriting?