And worked my regular W2 job which paid well less than $100k, did a lot of the rehab work myself, and did some side jobs for extra cash to speed things up.

Here are some details: Top bottom duplex Purchase price 440kTurnkeyDownpayment - 55k Both units vacant2/1 upstairs - $1500 market rent (long term)3/2 downstairs - $2500 market rent (long term)Newly renovated Central ACSeparate electric meter 1 water meterInterest only payment for 5 years - $2567/monthTax - $500/month (appox)Insurance - $150/month (approx) Cash flow - $391 (after taking into account vacancy, property management, maintenance and capex reserve)ROI - 8.5%No prepayment penalty If used as Airbnb, ROI can be higher

Break out single family/condo; then 2 units then 3-4 units all have different rules. 1-2 units is far easier to get approved verses 3-4 which have extra conditions to ensure that the whole project cash flows with market rents minus the one owner occupied unit. 3-4 units you need much larger down payment - as in no 3.5% downSecond home programs are for one unit types: SFR/condo/townhouse.Owner occupied means you live there and your insurance policy matches.

The agent posted in my Facebook group that she needed an investor or hard money lender, so I called her and ask for details.

That's awesome your tenant is looking into options for home repairs.If your tenant needs any advice or recommendations based on my experience, feel free to share my contact details.

Seems risky waiting until after the purchase when holding costs will start to pile up, but it also seems silly for the contractor to walk the property with you, write up a detailed scope of work and risk the buyer not actually completing the purchase.

I would dissolve the LLC the year after the property purchase is seen on the return.Please share thoughts about my idea and if there are better alternatives or details I am missing.

For example, it is costs you 2% more of the loan amount to go to 80% vs 75% you are only netting 3% extra cash in hand. is that worth? 

While sealant can give extra water protection, it might also trap moisture, leading to potential issues like mold.

Read this detailed blog post.https://medium.com/p/ef0480228574Real Estate News in BriefWhile it’s disappointing to see average mortgage rates back near 7%, the rate cuts will come eventually, and the increase in the national inventory of homes available for sale is encouraging.