Current timeline to purchase is probably 6-12 months as I start narrowing down and visiting some of the places to get a better idea over the next few months.

Understanding the true material costs is important and I urge investors to get a good grasp of this before agreeing to labor only bids where they are responsible for purchasing materials.  

For an auction.com purchase in Washington you have 2 options. 

Purchase price: $220,000 Cash invested: $45,000 This is a 2 bedroom, 2.5 bathroom rental that I purchased.

Who owns the solar panels and what's my liability if I continue with the purchase?

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Hey everyone, I’m trying to decide between purchasing a single-family home or a multi-family property for my first real estate investment in Detroit, and I’d love to get some advice. 

That ensures you don't spend it on other things and that you know exactly how much you have available to spend on the next purchase.

Maybe it’s just gut feel, but for some reason It FEELS like these two scenarios will provide excellent opportunities moving forward, while fishing for notes to purchase at significant discounts to current principal enough to yield sufficient returns doesn’t seem as promising.  

So if you purchased one 4-plex each year, after 10 years you would have about $12K per month in cash flow.