You can start learning the ropes of real estate investing and begin generating some cash flow.- With $50K to $60K, you can find a decent LTR property, but make sure to do thorough analysis on the property's potential for cash flow and appreciation.- LTR properties often have more stable income streams, but they might not offer the same level of cash flow as a well-managed STR.

The city recently inspected the property and determined that a converted garage was poorly constructed.

when you buy a property you'll have a down payment, closing costs,  rent-ready costs, costs to get set up with a PM, a commission to place a tenant...

It has been a dream of ours to own rental properties.

The owner is responsible for any damage to the property that wasn't the fault of the tenant.

What is considered a good goal for return on equity in a property?

I am not an investor, well, not an investor of real estate property.

The long term goal at the subject property would be to add an ADU to the large side lot and have 2 units OR sell and purchase duplex/ 4plex. 

Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.

Hi guysI am planning to buy my first property soon.