My roommate pays $600 and I am letting my brother stay with me at a discounted rate of $150 (he's buried in college debt) So I am breaking even every month instead of making a profit, but it has been sweet not paying rent/mortgage.

Unfortunately, the settlement wasn't the only problem with property (voids beneath slab, issues with plumbing, "interesting" repair techniques, and a whole of lot of other things that added up to a "no" for me at the price and my current experience level). 

This still puts me at a 300k at closing.

He gets his full price (feeds ego) and you get some meat on the bone for you.

I inform her that she has to give me at least 30 day notice (GA law).

Bad for me at the time because they were asking me why on earth would I want to buy an investment property if I didn’t *gasp* own my primary residence?

Just text me at my number below and we can schedule time. 

I think this makes the most sense for me at the moment as I have a good construction crew here in Austin at my disposal as well as a few hard money lenders that are willing to help.Thanks again for all the input everyone!

Hello BP family glad to be here. I’m a green newbie to investment RE, but have owned my own home for approximately 9 years. After several years on the bench I’m ready to get in the game and pursue my first rental prop...

Steer clear of sub$50k props, ESPECIALLY IF TURNKEY, because there just simply isn't enough meat on that deal for everyone to get paid, which means someone has cut corners somewhere and he'll end up holding the bag.