They want to be rich but dont want to go through the pain, near Bankruptcy, sleepless nights, financial struggles and let downs etc.. etc...

Hi Everyone, I'm excited to be starting on this new path to financial freedom.  

As long as it's utilized correctly, under leveraged, and viable from a financially defensive position, you can create tremendous growth - faster than you otherwise would have. 

Looking forward to financial freedom!

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

Quickly learned its completely 2 different areas and I want to be focused on investing, my goal is to get started in buy and hold rental properties to create passive income and financial freedom down the line.

@George Evans I used Dimtriy and Sense Financial.

What your financial situation/credit score looks like 3.

Bottom line, that's a personal decision for you and your partner based upon your financial positions.

Personally I think it's gonna be a doozy, and I've heard economists and analysts say this time things are different - followed by those same people saying the most terrifying thing you could hear a financial analyst say is "this time things are different".