This does pose a challenge since that real estate is a lot more expensive than if you go more west and south.

It will be an identical home to the one I’m currently building, and I expect to need no more than $160K in financing.I’m not looking to overextend myself by taking on too much debt, but I want to make sure I’m approaching this in the right way. 

We approached the existing lender for a loan assumption.

@Samuel Coronado - the challenge is that there will likely be a very small number of renters looking for a house that size, as well as that can afford a rent amount that high who won't just buy otherwise. 

Challenges?

@Katie Accashian I know it can be challenging to find a trusted company.

Challenges?

Get a small MF you can house hack and start that way.I'm not an expert on the auction scene, but, from what I have read, that is a challenging first step into investing. 

Building a portfolio allows you to gain experience, develop systems, develop your own approach to managing properties etc.

Even in those cases it is hard to create gap between purchase price, rehab and ARV.Investing in todays market is overall very challenging and I am finding that the BRRRR startegy is one of the worst strategies in todays market.Lets keep in mind that BRRRR became highly popular before 2020.