Stretch your brain by being well versed in different literary forms.

Your tenants should be proud to liver there too.I'm not an expert by any stretch of the imagination, however it seems that the rehab budget is low. only 5000, and the house is super old. with the current tenants, im worried that they may not have taken care of it, so there could be some huge issues that you cannot see.I would see what you can do to get a better estimate on the rehab needed

Since my membership I have purchased my second rental and after a few months of cash flowing on both my properties, I decided it was time to expand, but also, move into markets where my dollars would stretch farther.

MattHi There Matt,Good to see you on BP.I've done a lot of these BRRR's or refi's for clients and myself and yes appraisers tend to be very very conservative on refinances.Reason being, on purchases, a new contract signed between buyer and seller assuming no distress is considered "market value," so appraisers are able to stretch an appraisal around 10-15% in some cases when conducting appraisals on purchases.This is a stark difference from refinances where they go out to the market and generally look at:- comps with 1/4 quarter mile (1/2, 3/4, and 1 full mile if no comps within 1/4, 1/2, etc distances)- most recent sold properties are used only and pending sales (not completed yet) is given 2nd class consideration- consideration is given to properties of the same title size, lot size, square footage, condition of the property and otherI've often seen that upgrades and rehabs dont always give you the adjustment you (as in buyers) often want so when judging if you should do the work to improve the property its important to look at "value," through the lense of an appraiser.I've spent 80k before and got 100k more in appraisal and at the same time I've also spent 65k and got 30k.

Hello,We are trying to stretch staying in our two bedroom town home with our three growing young boys as long as possible to save for a down payment on a SFR once the oldest starts into his teen years. 

I'm not in the TGIF mood because title companies are closed on weekends:/ I'm on the final stretch to close my first driving for $$$ deal!

Most of these people are in a tough stretch and just need to get out; occasionally it's the family of a relative who has passed away.You can chase auction leads too, but I find that there are a lot of sharks in those waters.

I really dont want to over-stretch myself with the larger down payment, which obviously makes the FHA loan so appealing.

I would have the cash to pay it off at that point if I decided too but will probably stretch the repayment out two years max.

,Educating myself (listening to podcasts, finished j scott's book on flipping houses and am gonna start the one on estimating rehab costs).The areas you mentioned above (stockton and sacramento area) are where I am considering given that the entry point is so much lower compared to anything else closer to the Bay.I am thinking spring/middle of 2017 when my working capital will be significant enough, my debts low enough and my credit high enough so I can do this without stretching myself too thin.