About 2 1/2 years ago we bought our current home 1/2 built for a song and finished It out with me doing most of the work with a few hourly helpers.

Alternately, if you are in a hot market, have no money, aren't willing to work your tail off, have no skills to add any real value, etc. then you should have no reasonable expectation of making any return at all, and if you do then it is probably coming via ill gotten ways.Wasn't there a Led Zeplin song with lyrics something like "...and he's buying an escalator to heaven"  Jay? 

After 2 years, you will have paid down $3150 in principal.So, you can go rent a house for up to $2250, keep the $10,000 and forgo $3150 in principal reduction.  

Out-of-state rental investment is a great option for people in pricey markets like LA, but I'd caution you not to be seduced by the siren song of a bargain basement price tag.Many new investors like the idea of starting with a lower-tier property because it means they need less capital to get in the game.

Literally, cannot get this song out of my head. 

@Amy Xu if this is your first deal I would say do not forgoe the inspection for a couple of reasons.  1. you get an out if something shows up in the report and 2.

Hello @Christopher Abernathy - myself or my team can certainly help with how to read it, and give you at least some tips on how you can use it for go / no go decisions.

Your parents could do a "gift of equity" of up to $250k, I would suggest making that number closer to $230k for GOE (to fully max it out,) this way you could also include $20k of sellers assist to payoff those Title related closing costs, as Property Taxes are typically waived for both parties between family transfers.

I have been loaning hard money for going on 30 years.. not the end all be all.. but I do know whats common in the industry...

Or, you might forgo the commission, the borrower might give up $1,000 in incentives, and the buyer (you) might agree to increase your offer by $1,500, resulting in the net proceeds target being reached.Good luck!