Quote from @John Laseter: Good morning all, Saturday afternoon a gentleman knocked on my door and produced a postcard that I had sent to his house offering to buy it.

My wife and I have a high w2 income and hoping to add real estate to the portfolio to diversify, learn something new, and for tax purposes. 

With rising interest rates and the widening wealth gap, first-time homebuyers are by locked out of the housing market, it seems long-term rental demand is solid but of course it would be important to get quality tenants in the better parts of town.

Hello Bella, if you need sources of money for your wholesale properties feel free to reach out, we offer wholesale pricing, so you could add an extra 1% to your wholesales by participating on the loans as well.

This is 100% leveraging, which is high-risk, and it probably doesn't make sense because the loans will be more than the income.This property sounds like a good opportunity, but I recommend you find a way to save up for the down payment.

Great deal on a property that historically had rented out easily and for high rents.

DSCR for example which is a great investor loan had rates this week in the low sevens and high sixes.

I do feel I have a lot of skills that I could offer that I have built from my current W-2 job.

The risks are just too high in my opinion and you can pay a pretty steep price as you did in your case. 

The property taxes are a bit high but I made up for it with rental increase and minimal updates.