So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

Quickly learned its completely 2 different areas and I want to be focused on investing, my goal is to get started in buy and hold rental properties to create passive income and financial freedom down the line.

@George Evans I used Dimtriy and Sense Financial.

What your financial situation/credit score looks like 3.

Bottom line, that's a personal decision for you and your partner based upon your financial positions.

Personally I think it's gonna be a doozy, and I've heard economists and analysts say this time things are different - followed by those same people saying the most terrifying thing you could hear a financial analyst say is "this time things are different".

Recent events have pressed more of a NEED than a WANT- looking to get my brother-in-law into a flip or BRRRR-type property for a few reasons: 1) Get a young single father an alternative living arrangement to current situation 2) Allow him to pay down debt 3) Get him interested in real estate investing for lifelong financial benefit.

For this 1st transaction, you'll learn home shopping, financing options, budgeting, home improvement, ongoing home maintenance and financial budgeting.

@Leo Kwok Good to hear the story and would like to know the financial side of your project, do you pay the purchase and fix all cash or other funding method?

In addition to the financials, you also need local area occpancy rates, local CAP rates, etc.Are they giving you any information (e.g.