This deal doesn't meet the 2% or 50% rule of thumb, but it has positive cash flow and is in a growing market, according to the latest 2024 Top 100 data from BP. 

I signed up for their investor profile because I am interested in the appreciation in the North Texas (or northern suburbs of DFW) market.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Reno Scenerio Off Market Purchase Price - $185k ARV = $315-335kReno - $55-65kHolding - $10kClosing both ends - $25k= $335 , $315-$285 =$30-50k gain  As-IS Scenario Purchase - $185kSale Price on MLS :$225- $235kClosing both ends - $20kHolding - $4k= $235 - $209 =$16-$26k gainIn both scenerios I’ll be 1031ing it into a new investment.

Have you scoped out a market yet?

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Lenders do not look at your personal income or debt and will use the current market rent or lease (up to 120% if the lease is significantly higher than market rent or vice versa) as qualifying income.

This is one of the main inherent risks with pre-construction, and the pre-construction market has cooled, and with impeding tariffs, there is some uncertainty around where prices will be in the coming months.One thing to clarify, are you looking to buy an investment property or a primary residence (or perhaps abit of both where you live in one unit and rent out the other)?

There aren't any good wholesalers in the Cleveland market.