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.

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

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

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

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

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

Thank you  what ever happend with this?

I have done this several times.

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.

I'll say this:-"flipping" a property - buying it, rehabbing it, and selling it - is easy."