A 30-year fixed rate mortgage is currently sits around 6.15% interest:All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

I have set up a few groups but its nice to have someone who has more RIE success so feel free to reach out or send me an email.Be nice to have another person I can refer to for my customers that want to talk to a local and may know more.

@Jane DangGenerally, if the cost is $2500 or less it is considered a repair.

So for the first item on the balance sheet you put the purchase price and then for the WIP item you add all purchase closing costs, reno/holding expenses, sale closing costs and then finally put the sale price as revenue?  

All improvements would be added to the cost of your property and depreciated over 27.5 years.Any interest or taxes paid on the property for the full year are fully deductible. 

Local grants and first-time homebuyer programs can help minimize upfront costs.

Private money may cost you more in the end, but as long as you know the terms and are fine with it.  

Everything for free.

Go under contract with a ~45 day closing, rehab for 30-60 days (costs wrapped into the loan)..during this time you can market for tenants, then move in. 

You need to account for Permitting Cost, Construction cost, Financing cost, Insurance costs (Builders risk & General liability), Holding costs, Selling costs, and contingencies for cost overruns.Any specific questions don't hesitate to reach out.