In light of this, I have been exploring the possibility of pursuing creative finance options, specifically seller finance deals, as a potential means to achieve my goals.

This does not mean actively acquiring but rather considering valuation, market demand and rents, and potential ROI. 

I would recommend that you analyze the operating side of the business and the capital side of the business separately.On the operating side, you can use AirDNA to predict the potential income which is gross revenue.

That said, weigh the cost of renovations against the potential increase in appraisal.

The city offers a mix of high appreciation potential in certain areas and solid cash flow in others.

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.

@Brandon Pimm my friend and I are in jersey as well looking at Allentown as potential first rental property purchases.

Consulting a tax professional now can help structure ownership and financing efficiently, ensuring you take full advantage of deductions, depreciation, and potential tax-saving strategies like 1031 exchanges in the future.This post does not create a CPA-Client relationship.

Traditional IRA withdrawals are taxed as ordinary income, with a 10% penalty if under 59½, potentially pushing you into a higher tax bracket.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!