So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Is this for a primary purchase or build to rent/sell?

Hello community,We have purchased a home in Nevada City, California that is currently a cash flowing rental, until it becomes our primary home in 1.5 years when our family relocates to the area.

Most get cornered into purchasing specific property types because its what their resources allow.

In the next 2 years, I'll be looking to purchase a MFR to househack. with the idea of reinvesting all of the cashflow to help scale.

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

Quote from @Yash Shah: Hello everyone,I'm new to this group and would love to hear your thoughts on the pros and cons of purchasing a corporate or bank-owned home.

I purchased a townhome in Fort Mill, SC (Lancaster County) in July 2023.

In Cleveland you could also purchase a property in an area that is improving or on the border of one.