Use the calculators on the site to get comfortable with the numbers.

Hi all,So, I am new to this site and am very excited to learn and hopefully grow in the real estate world.

If it weren't for everybody on this site, BP wouldn't exist and it is because of BP that I am making this decision to move forward.

Since you are living on site, you can keep a close eye on things and easily self manage. 

I am a relative newbie as well compared to many on this site, but I would glad to offer you any advice that I can to help you get started. 

LOL It's still accessible through my site link if you're really interested (rental #5 link)When I say load up the HUD, I don't mean to do anything shady, rather, to include all pre-close costs possible. 

I think your best bet will be a portfolio lender.

I've been looking at picking up houses through the auction sites (Hubzu, Auction.com, etc) and I know that as the buyer I will be responsible for closing costs.

And ALWAYS follow up.Here are the numbers on the deal:- $108,000 Purchase price- $8400 closing costs- $70,000 Rehab Costs- $2,000 holding costs for two months (estimate is 5 weeks to completion but lets say two months, it wouldn't be so quick but equity partner is full-time GC on-site)- $274,900 ARV (Appraisal completed by bank)- $5,498 Selling Costs- $16,494 RE Commissions.Net Profit = $64,508 about 23.5% profit off of ARV.Now the fun part begins, I'll report back with pictures as we go through this.

If an investor is eager to pay 350K all-cash off market, I'll bet you can find a retail buyer (or an unsophisticated "investor") to pay even more.