I am using hard cash to buy the house and a loan to finance the rehab.

Originally posted by Jackie Lange: Private lenders are sometimes more affordable but they have a tendency to think they are your "partner" in the deal and will call every few days asking about the status of the project and when it will be complete.They can call me as much as they want if I am using their money at 8-10%.

I'm sure it would be even more amusing than traffic court ;)

I just dont think I could mentally pay a mortgage every month and see the balance stay the same, but I am using the same strategy that Peter used (short term IO) rehabbing a 3plex currently.

I am using an  eviction attorney this time - the price of learning what to do.

I am using a private lender.

I am using the house hack strategy so I looked for houses with 3+ rooms and high square footage to get a great deal.

When I first got involved with BP I was overwhelmed and amused by the number of creative ways to make a deal happen.

Allowed this deduction from Income for my time) ($1000 for insurance - complete guess, no idea, have to verify) ($1500 for miscellaneous) NOI = $16,023 Also, I contacted a few real estate agents in the area and found CAP rates to be around 7.5-8%...in this case, I am using 9.5% as it is vacant, rundown and hasn't had much success as a rental property.

Fairgrounds/Amusement Parks/Entertainment FacilityOr maybe something even more different!