I cleared $10k on my first one.We ended up clearing $30k on the second one.The last flip was very stressful for my wife and she wants to keep our finances (HELOC) out of the next one.I am going to look to find a financing partner to cover the carrying costs of the next flip.On a $400k house (average for my area), the total investment would be $85-$95k and would be paid directly to the lender and subs/suppliers, not to me.I can bring the lender, as I have a good rep with the one I use.I will do all the rest.

We also noted a specific market rate rent in the lease and noted that it was waived for first 3 years. 

I definitely should have followed my first rule, get a $50 inspection.Has anyone ever encountered this?

Hello Shyam,We offer 2nds as low as 50k but first are min is 100k. 

We went under contract on our first investment property (had never even bought a personal residence yet) just a couple weeks later. 

Being a first-time investor, you'll likely be closer to 75% or 80% of the purchase price on your first one.

I'm most curious about the 12 month cash out refi requirement for Fannie Mae.Per Fannie Mae, "If an existing first mortgage is being paid off through the transaction, it must be at least 12 months old at the time of refinance, as measured by the note date of the existing loan to the note date of the new loan.

Add the finance issues, level or effort it requires, loss of something from primary unit (even if it is just yard), and the amount of time between first capital outlay and initial income.In general, adding a ground up ADU in SF zoned area is a poor investment.  

Wondering if these are c/c+/b class neighborhoods and if tenants will be long term tenant and what the vacancy is like in North Linden Ohio.

My first idea is you have to figure out how to partner and grow.