I would highly recommend finding a lender that does 10% of purchase price down because it will ultimately be less expensive for you.

May not sound like a big deal but i tried to create the account under my biz and purchase a sub-to through the account, and lack of outbound wire was a killer for me.

I'd strongly recommend against a single family home and only target properties with at least 2 units otherwise it'll be difficult to cashflow in this high interest rate environment unless you plan on using a large amount of liquidity in the purchase.

I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there. 

Hi BPers, We have just made a purchase which is our 11th property, yah!

Quote from @Palak Patel: Hi everyone,I am new to the rental business and just purchased my first rental property.

Why do you think purchase contracts are so long and have such small print?

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.