DC is one of the lowest cap rates in the country.If you have a long time horizon, and have patience, with the areas strong rent growth you can end up with more cash flow here than a high cap rate market.

Quote from @Jarod Forsha: Borrowing the equity in your home is risky when rates are this high.

Since LLCs don't do much (perhaps some wealth transfer within the OA or rules of the road with multiple members), they might not be worth it in high-fee states such as CA, MA and others.

. $2,500 in rent for $1,300 sqft seems too high, even for Bayview and I guess you are in Tippecanoe, but I have not seen the house so can't tell for sure.

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Find a property and hopefully purchase for a good price in cash (or a similar result, hard-monty option), perform the required repairs for your mother and potentially get the second rental unit ready.

Other properties are showing high costs, but I'm not really sure how to get good comps with this situation

I believe they start in the high 9's currently. you wont get to your $20k out of pocket target on this scenario specifically, but the point is, there are some lenders which will work with out of the box deal structure (for a premium).

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