Congratulations on your first investment purchase! 

You can purchase through a brokerage account with much smaller minimums.

How big of property are you looking to purchase?

Hello all, I recently purchased a condo on the east side of Madison from a foreclosure sale auction.

I would appreciate any advice on anything I may be missing with putting this together or should neogotiate before finanlizing.Negotiated so far:Property: 9 Unit - 7 Apartments + 2 Commercial Garages (4 unit apt building + 3 unit apt building w/ commercial garage attached + standalone commercial garage on same lot)Background/Why owner is selling: A seasoned builder of 50 years, the owner purchased the property in the 1970s for around $8,000.00, later developing three apartments and two commercial structures.

I have recently started writing down addresses of run down or abandoned properties that I would like to purchase, but I only have the owner's name.

Purchase price: $530,000 Cash invested: $20,000 Hello all!

If I sold, I think it would be by a hair that I can offload the property for the balance despite a tax value of $440,000, but it would get it off my books completely and free up my VA loan to purchase again. 

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

You might consider hard money for the initial purchase or going with a DSCR type lender if you find something that is more turnkey.Hey!