In general, I have found that taxes rarely jump to the worst case scenario after you buy but you should be ready for them to if they do. 

Between you and your nephew, you need just over $5K combined.

I rarely see people get 100% of their funds back on a BRRR. 

Lenders are required to drop PMI when a mortgage's LTV ratio reaches 78% through a combination of principal reduction on the mortgage and home-price appreciation.

The rent I am collecting is $650, only expenses are tax and insurance, which equal out to $120 combined. 

With the internet auction it is not rare to see hundreds of bidders per property.There are still some niche where you can get some good deals.In my case in Florida I only buy tax certificates (liens) and get some good returns (18% in general but sometimes way more if I’m lucky).

Interest only, investors, combined with a construction loan so the interest can be added to the construction loan, etc.

Rarely do we see the word “guess.”)My only follow up is what do you think the dollar will be devalued against? 

I have done tons of FHA loans (203k too) for clients and the inspection is very rarely a concern of mine. 

It’ll be a combination of one tenant who was able to find employment after being laid off (we had given her a discount in April) and we were also able to find another tenant for a property that we rent out per bedroom.