I plan to get on an income driven repayment (IDR) plan once I graduate this spring.

Purchase price: $55,000 Cash invested: $110,000 Sale price: $205,000 This was a 1950 raised home that needed extensive foundation repairs as well as all plumbing, electrical and subflooring.

You can even use some of the equity from this property to reduce the down payment burden on your next home without "throwing away" the value you've built.

This book will help you learn how to underwrite.With the little information you have given, this purchase will be underwater.

We are currently in the process of Renovating this home built in 1965 and plan to have completely transformed it by spring 2025.

Unless you come from a corporate job that is involved in this field, it is not a place I recommend to start.

I generally know what that means but I don't know if there are any potential cons with this situation.  

Because of this, I believe the market for selling my houses is likely limited to other investors.

Hey @Devon Moore not sure where or why you'd lean towards a land lease unless that's standard for this developer.In my experience its difficult to capitalize deals with ground leases involved.  

Quote from @Sonja Revells: @Chris Seveney primarily Padsplits  I would speak to a few lenders first before going through all these hoops, as I started to do this then when talking to banks they were basically telling me either get a secured mortgage as they will not lend to a real estate company on unsecured credit/debt.