I was born and raised in the City and learned about investing techniques when I was in my 20's, now 73 still going strong and doing bigger and more profitable transactions.

Hi @Matt Heidinger I am also from West Palm Beach, born and raised, I have flipped properties and I have a few rental properties.

And I'm nervous about refi-ing the condo, renting it out, and buying a multi-unit bc I'm not sure if I would qualify for a mortgage for the multi-unit because our student loan balance raises our DTI. 

We are hoping to use SDIRA funds to loan to the LLC for the rehab, and charge our LLC a very lucrative rate, and I was testing to see what would be the max interest the SDIRA could lawfully charge.

The short answer is no they are not making $15k they are making $11k to pay the 3%. but not raising the sales to keep it attractive.

If I am able to successfully raise rents, the pay down time becomes even more attractive.THE BADI am skeptical about the foundation support under the home and will see what the engineer says. 

I also considered checking the plot records, and getting a perk test on the property to see if a second build was possible.  

Go and meet the wholesaler or R/E pro in person and see if they pass your smell test.

If your objective is to walk away from the 9 to 5 you're going to either have to leverage/borrow or learn how to raise cash to support future purchases.  

Please let me know if these numbers make sense as a good deal:Purchase Price:  $155kExpenses:Taxes:  3,439Insurance:  900Maintenance:  1,200Vacancy:  1,038Total Yearly Expenses:  $6,577Total Monthly:  $548Financing:$155k, 30 yrs, 5% = $832/monthExpenses + Debt = $1,380/monthIncome:  Property comes with tenants paying $1,500/monthCashFlow:  $120/monthNOI (without debt):  18,000 - 6,577 = $11,423Cap Rate:  11,423/155,000 = 7.37%  In this particular town, 7+% is very hard to come byI also believe the current rent is below market, and has potential to raise to 1550 or more.