I suppose in LA you can get away with that, because each unit rents for thousands per month, lol.Just be very cautious with your budget on a buy and hold full reno.

The property was sold to us for $106,000 ($46000 purchase price+ $60,000 for a full rehab to be completed by ABC Baltimore).After 2 years (as of Aug 2019), I am writing to report that I lost thousands of $$ in this investment (breakdown attached).

I was required to pay a non refundable fee of $1,000 up front which in my mind should have covered these inspectionsEven though they refused to fund the loan they refused to refund that $1,000Pretty good racket they got going - grab a thousand bucks from you and then do nothing for you.As the saying goes - fool me knce shame on you, fool me twice shame on me - would never consider doing business with them again  

Not having property management dialed in and wasting thousands upon thousands on deadbeat contractors. 

For Creative investing, it seems like you only have to have money to pay education and a mentor, which I understand may cost thousands but is still much cheaper than Traditional investing.

To our way of thinking, this was far better then paying thousands to a bank in closing costs, surveys, appraisals, other loan charges, and recordation fees.  

You have to be very cognizant of "special assessments" which can add literally thousands of dollars a year to your costs.

Could that cost you several thousand dollars?

Hi Vanessa,               Welcome to the group...Like you, I am new to RE investing but what I do know is that all the information you need is in the group from Podcasts,Webinars,Blog Posts and most importantly the awesome individuals in the group...You will never need to pay those late night TV gurus "Thousands of $$$" for Master training to be successful(LOL).Lets put MA on the map since many people think its impossible because of the "High Cost Of Living"Cheers to your success!

@Joe Gore , it sounds crazy to people that aren't in New York/SF/Oakland etc w/ rent control, but landlords pay out tens of thousands or more sometimes to "buy out" tenants to have them leave.