Many people on BP give that advice, but they aren’t the one holding the bag if your bank exercises the Due on Sale Clause.

From the exercise I'm also building a habit to do due diligence coz it's the BIGGEST mistake a newbie can make in my opinion. to get better understanding and give me confidence for out-of-state investment so I don't regret it.More thoughts on your suggestions: Don't buy in the roughest neighborhood in the urban core.

IMO low-balling is a ****** way to negotiate and you should be in the ballparkGet a general inspection, but more importantly a pest inspection.

If you'd like an introduction to a lender to get the ball rolling I can help you with that.

To start out I am doing this as a personal exercise to learn how to do these types of deals for the future, currently I have not yet done a deal of this size.

A properly set-up DST will both protect your assets and bypass the burdensome franchise tax that would be levied against a Series LLC or Traditional LLC.The Delaware Act expressly provides that “[n]o creditor of the beneficial owner shall have any right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the statutory trust.” 12 Del.

Long story short, I was on vacation and had everything set up with my financing before I left (or so I thought ) and I come to find out my broker admittedly dropped the ball on getting some documents to the underwriter so my agent reached out to the seller and anticipated we may need a few extra days to close( days not weeks).

Most of the folks I work with or know that are what I consider very wealthy  IE 20 to 100 million net worth  last thing they are looking for is leverage to the eye balls  LOL.. most in fact own a majority of their real estate free and clear.. 

If you want a ball park estimate of how much you can afford, then you can discuss pre-qualifying with a lender. 

Does that sound about right..ball park?