Keep in mind that this house has been on the market for 6 months at $82,500, and your final basis is going to be right there: $83,500.

You say 'I've raised enough private money to buy properties...' but the structure of the acquisition, and the entity(ies) to hold these future acquisitions, are not defined.

I am a community property state, 50-50 more or less.I have purchased a duplex with my SDIRA since I moved out, and am likely to purchase a SFH for rental before things are finalized too.

Make sure you spread either of these smoothly and evenly to minimize final step because they are much more difficult to sand than drywall mud.Post back if you gave any more questions.Good luck

You might be tempted to keep all the cashflow until repairs become necessary and then you will be hurting, or you might be tempted to put all your cashflow and savings from earned income into repairs which will slow down your asset acquisition.

I have finally come across a property that I believe will be a great first investment property and I would like to share my analysis and thoughts to get some feedback and guidance in how to make an offer as well as best way to structure my financing (30 yr fixed, 15 yr fixed, etc.).

The city remediation occurred before we purchased the property (we were unaware), and the lien was placed almost 4 months after our acquisition.

After months of BS with Chicago zoning we finally closed in June.

I went and talked to the mortgage guy down at the bank to see if he had any connections and the guy was useless..If anyone has any experience with this type of acquisition feel free to leave anything you feel is important to know.

On final inspection the camera detected a three inch belly in the pipe.