@Alana Reynolds yeah, as mentioned above the current loan amount is already over the maximum threshold for this type of thing.  75% LTV and under will get you in the door. 

See IRS Publication 527, "Figuring the Basis" under "Basis of Property Changed to Rental Use" for more information:https://www.irs.gov/publications/p527#en_US_2023_publink1000... the loan on a property does not change its basis (the FMV or the amount originally paid for the property), although as previously stated, you may have deductible expenses related to obtaining the refinanced loan.Regards,Carter, EAPro Support"

in Pittsburgh you can definitely buy a house in a good neighborhood for $80K and rent it for $1200+... but it's going to "need fixed" as they say here.

My name is Dan and for the past 2 months, I have been searching for my first fix and flip opportunity.

Lumber started to come back down and sure enough in a matter of 2 days went up a solid buck, that's alot of money considering the amount of lumber going into a new build.

Most do not have any debt.However, I don't believe a single one got to where they are without debt and copious amounts of it.

Keep in mind that reducing the price would slightly reduce your actual amount (because 3% of a lower sales prices means slightly less in concessions) but that's how you would work this one.

Otherwise, you can re-stain them with a close enough color to minimize the amount of rework.

If we are to assume a 3.5% appreciation, which I consider very low when compared to the shortage of houses and growth in Columbus, if you put down 25%, that 3.5% appreciation is a return of 14% of the amount you invested. 

Will update our protocol on installing and fixing curtain rods.