Hi NidaI am very spectacle that the purchase prices you mention are anywhere but war zones.Most worth considering will start at $100K with rehab necessary.Please bewareBest Mike

We've never used percentage-based criteria, like the 70% Rule, for purchases.

I've personally found the bulk of my Chicago purchases off the MLS.

I purchased a fix and flip that got complicated when we found one of the basement walls was bowing in.

Purchase price: $110,000 Cash invested: $45,000 Recently purchased my first house to use as a primary residence, currently I am renovating the kitchen and adding a full bathroom to the first floor.

Where the SBA 7A can be used for all parts of the purchase and is generally Prime+ 2%, 10 years, the 504 (bricks & mortar only) is generally Prime -2%, 25 years. 

First, congratulations on purchasing your first property together.

Are you purchasing as investment? 

I recommend continuing to learn pros and cons of each and determine which paths (I pluralize it as you should diversify even across real estate).

Purchase price: $65,000 Hybrid Fix & Flip, bought, made minor repairs and clean out.