With the proceeds we later purchased two properties the same month, one with FHA loan 5% down and received a closing credit of $8k plus a $2k check made out to us after closing.

I was wondering what your experience has been, good or bad with buying rental property in close proximity to the firehouse/station?

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

We have helped a ton of clients with the process here in Chicago..just be sure to find a team (Agent, Lender, HUD Consultant, and General Contractor) that has done these renovation loans in the past!

Quote from @Drew Sygit: Have always wondered how PMCs with flat fee Tenant Placement work with other agents via MLS?

As a newbie, I’d love to connect with local investors and agents to learn more about the area and refine my plan.

@Steve Meyers I’ve been running this with some success with a local cincinnati agent on 2+ units and nationally with a commercial broker for shopping centers.

It is a HUGE bummer as an agent to write up an offer to go to a junk property (happened to me last week) to end up pulling out.

I stumbled upon a Marina listing close by.

I’m set to close on a property in early August and am trying to make sure I’ve got all the correct paperwork/wording to make it all legit.