When factoring in additional costs such as maintenance, property management fees (if you do not opt for a property manager, and you should), and potential vacancy periods, the financial burden could increase.Check this out: If you're breaking even on rent at $1,600, any additional expenses or vacancies directly impact your pocket and mental health.

Is this a poor strategy considering the potential market downturn?

Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.IDK, the significant dip into your savings for a project with many unknowns could strain your safety net.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Hey Annwar, with $50k cash and some equity to potentially play with I'd look to do BRRRR's with cash purchases.That said, it will come with its own set of challenges.

@Jesse GrimUsing a hard money lender (HML) could potentially speed up the process of accessing funds for your fix and flip projects, but it's essential to weigh the pros and cons carefully.

So I have a potential property to go under contact.

I don't do anything with list generating. but once you have located a potential property you might want to acquire, that's when my platform can help.

If she is working at that company she cannot take it out. she potentially could get a loan but that would be a question for the plan sponsor.

Starting with an Out Of State MTR / LTR strategy is smart, especially targeting travel nurses or university students.Focus on areas in Texas or Indiana with strong job markets and growing populations for better rental demand and investment potential.