If this is your first rental, you will be tested to have the conviction to stay in it...with no other experience to draw on...while the world is imploding.2.

What they can do is they can draw up those contracts for when you want to write individual offers.

Of course now my DTI is through the roof but what can you do...Luckily I'm still in the interest-only phase of my HELOC's but not looking to 2025 when my first HELOC draw period ends and I need to start paying back principal. 

Per my relator, we should start with Architect and get the drawings.1) Is it right approach.

The escrow company or attorney will draw up the appropriate paperwork.

I am closing on 4 deals this month, one a hotail, one flip, one 6 family hold, and lastly this deal that I'm not sure what to do with.The property: 1319 Michigan Ave South Milwaukee WisconsinPurchase Price: $14500 + CC of $1000Rehab: $45000 or lessARV: $150kPotential Capital Gain: $82500.00Rent Potential: $1400-1500Taxes (assessment $41k) $1200 which after reassessment will most likely be closer to $3000Tenants will pay all utilities and water bill.Maintenance/Capex/Self Mgmt: $400I will have this property paid off free and clear currently and can most likely pull off the rehab without drawing to much from my line of credit. 

@Steve Hyzny It's one of the reasons I left California (+ traffic+pollution+the fact I couldn't buy-and-hold locally to achieve any sort of decent return).

Someone who can draw up a purchase agreement as well as an “assignment of contract”..Thanks in advance!!

You want to see something that has low or no seasoning for a cash out refi or that may require low amount of documents.What is your draw fee & benchmarks for the repairs portion of the borrowed money?

I am assuming (happy to be corrected) that I would need to break it into several phases: structural study, possible strengthening of foundation, architectural drawings for additions on top of the back, and then permits and construction.With that I have a couple questions:1.