We also recently closed on a fourplex as a partnership with a friend.

If you need a new job once you move, you will need an offer letter prior to closing on your new home (and you will need 6 months reserves in order to be able to use the offer letter as income). 

It got me thinking:In your opinion, what are the minimum requirements someone should meet before raising money from investors (beyond family and close friends)?

Renting to Section 8 Long-Term TenantPurchase Price = $250,000Renovation Cost =$3,800Appraised Value = $270,000Monthly Rental To Section 8 Tenant = $2,800Monthly Mortgage Payment = $2,100Monthly Reserve for Maintenance and CapEx = $200Monthly Cash-flow = $500Another investment property was closed and added to my rental portfolio.

I do get hesitation of investors to be frugal on pre-closing expenses, but it's almost always illogical. 

The advantage with the bank was minimal closing costs, a good interest rate, and a draw system so I could get funding as I completed each rental unit. 

So far, I’ve closed two deals, and both required some creative structuring to make them work.One of the biggest lessons I’ve learned is that real estate isn’t just about buying and selling—it’s about solving problems.

I closed last week.Of course, we manage ourselves, so even if you take off 10%, it's still a healthy return. 

It's that easy and it's not going to harm anyone's health, particularly when it's in a closed closet.3.

Renting to Section 8 Long-Term TenantPurchase Price = $237,000Renovation Cost =$8,950Appraised Value = $310,000Monthly Rental To Section 8 Tenant = $3,215Monthly Mortgage Payment = $1,890Monthly Reserve for Maintenance and CapEx = $200Monthly Cash-flow = $1,125Another investment property was closed and added to my rental portfolio.