If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

My client recently got under contract on a BRRRR that is purchase price $245k, rehab is $35k, and the ARV is $350k.

Want to acquire a self-car wash within Dallas Texas area. Was wondering if anyone knows a guy/girl that can't help me acquire sed property off market for a better price. Any information would be appreciated. 

Taking a 15 year mortgage will hemorrhage your debt to income ratio and make it difficult to qualify for more home purchases in the future. 

@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Ming Huang Based on the numbers you've shared, I would advise against the deal, unless you can negotiate the purchase price down and/or rent it for at least $1,150.

But you have to purchase new investment property of at least as much as your net sale to avoid tax. 

Can anyone recommend any sites, courses, videos, or books to purchase so I can prepare for the test?

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

If you’re interested in assuming a VA loan, you will be required to purchase the home in your name and have enough cash to cover the seller’s equity in the home.