This was something pretty out of the ordinary for the attorneys (the bank’s and ours), and it took more than five months from accepted offer to closing.

Hi Moises, Numbers look pretty good.

Tenant base is pretty descent, and price/rent ratio is pretty descent. 

@Kristine Pedersen I would confirm this with some of the full time lenders on here, but I am pretty sure you cannot refinance a 203k loan within the first year of ownership in to a non FHA product.

That said, this space is much more expensive new construction and larger than anything we’ve dealt with and pretty much anything else on the strip doesn’t compare.

Good idea, but.....I'm pretty sure that the owners just want to sell and not do anything like that.Part of why it's cheap.

There’s a lot of good stuff in there.Auctions seem pretty daunting for a new investor... so I’m thinking that might not be the best place for me right now.I’ve heard similar things about direct mail.

All that to say, I think that this deal could potentially represent a pretty interesting investment for us but given the high price of homes currently, I'm still somewhat torn.

Garrett Jack - Are there any free courses on Coursera, YouTube etc. without the pretty paper at the end?

There was no need for a special lawyer as the process is pretty standard.