I will follow the advice here to keep high deductibles and low premium and save the premium for any contingencies later.

So, for the crap-talkers & whiners, maybe a little gratitude would be in order.2) There are other rent-a-SoloK-plan providers out there who let you DIY for a pretty low fee.

. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

@Rishika Garimella I am a local home inspector and investor in the area. i think Austin is a sleeping giant right now. the rates are really scaring away buyers. but since competition is so low right now, its a great time to snag some property while its not being ripped apart by investors. i think the hutto manor area is a great choice, once that freeway opens up that connects taylor to round rock, it will definitely become a point of interest.

Focusing solely on numbers often leads to the purchase of low-quality properties.

Section 8 is best used as a risk mitigation tool for properties in super low income, high crime areas.

While you might find a lender offering low down payment options, you'll still need cash reserves for repairs, maintenance, emergency fund (ideally 3-6 months of expenses), etc.

They keep rent low, give gifts and homemade cookies for Christmas, make upgrades whenever the tenant requests,  accept all the late rent excuses, etc.The truth is, your tenant is not your friend.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

Question: assuming an ideal brrrr that has all investment extracted at the refinance, why would you choose a low cost market over a high cost market?