I am a rookie investor and have not purchased a property yet.Thank you in advance.

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).

These low interest rates make financing property purchases more affordable and appealing, enabling investors to secure favorable mortgage terms.2.

He negotiated a $5k discount on the purchase price, and I moved forward with the deal.Fast forward to now - after seeing water in the basement, I hired a professional to inspect it, and the news was not great.

You mentioned you haven't purchased an investment property before or been involved with seller financing transactions.

@Ben CallahanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

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.

I already have an investment analysis workbook built that tells me everything I need to know to make a purchase decision, NOI, COC, ROI, and if the property will achieve the appropriate coverage ratio to be funded. 

The buyer ended up buying and reconverting to a single family, and doubled his purchase price.Yeah, that's actually a really good and in-the-now viable strategy. 

NOI divided by purchase price gives you cap rate.