This year, I finally bit the bullet and bought an income property outright.  

Hi All,Newbie finally getting ready to pull the trigger, I have 40k cash to start out with BUT NO CREDIT + no income, meaning unable to get any conventional/bank loan.

Especially when you talked about finally focusing and your friend's challenge. 

@Troy Fisher Pellego just crunched the numbers on ~13,000 historical flips in the greater Seattle area and found the median purchase price to final resale is ~64%.

Finally the buy agreed to pay her the 5k and when they showed up at the title office the seller demanded 10k.  

It's going to be thousands of small steps, accumulated day by day until they finally add up to something big.

@Laura Williams, I now have long term tenants again and am finally cash flow positive by a small margin, nothing i would brag about on BP, but I'm getting 16% more rent than I was 3 years ago. 

Finally got to a point where I could afford 30% DP's then all my leg work on getting creative started to pay off.  

As for the down payment; I'm assuming we would negotiate something substantial enough for him to make his move to Dallas (like 10%-20%).Final question: if he's carrying the note (I.e. 

So I have  tried to work with this tenant for several months and finally decided that I would issue the 15 days notice to tenant, this was done by a company who does evictions and all processes done appropriately;. notice was served, tenant had 15 days to vacate, on June 1st tenant would be considered a holdover and a writ of possession would be filed.