@Tim JohnsonThere are essentially two ways (and a few variations) to purchase this deal, depending on how the owners are selling it:As a going concern:  In this instance you are buying the business, so it is the business you evaluate: assets, liabilities, revenues (historical: 3 - 5 years), operating costs (historical: 3-5 years), future financial projections, goodwill, etc.    

This indicates a healthy environment for both buyers and sellers.Adapting to Trends: The longer time to contract and sales for townhomes and condos suggests a more thoughtful buying process.

I have a current tenant who would like to buy a rental house he's leasing. 

(and I have full time job so time is limited)Here’s a breakdown of my investment plan–I would greatly appreciate any guidance and recommendations on making this (or some version of this) happen.PropertyLocationAttributesB-level areas (A-D scale)Safe enough for my girlfriend to feel generally safe walking alone in the eveningWalkable neighborhood / close to transit (car ownership not necessary to live there)Area(s) of interest (not set in stone)Jersey City areaConditionB or C-level (A-D scale)Semi-distressed with potential for minor rehab upgrades ($35k max)DealbreakersFoundational issues / big required rehab due to FHA 203(k) max for streamlined versionSize2-4 units (higher the better)2-4br per unit preferredMax Budget (FHA loan limits)NYCSingle-Family Home: Up to $1,089,300 + 3.5%Duplex: Up to $1,394,775 + 3.5%Triplex: Up to $1,685,850 + 3.5%Quadplex: Up to $2,095,200 + 3.5%Hudson County, NJSingle-Family Home: Up to $1,149,825 + 3.5%Duplex: Up to $1,472,250 + 3.5%Triplex: Up to $1,779,525 + 3.5%Quadplex: Up to $2,211,600 + 3.5%TimelineTitle in-hand latest: Jan-Feb 2025Can potentially buy earlier if I sublet my current apartment in NYC as needed (lease expires Mar 1, 2023)Rehab: 30-45 days max of minor rehab/renoMove-in: on or before Mar 1, 2025 (hard deadline)FinancingLoan type: FHA or FHA Streamlined 203(k) for rehab <=$35kPossible conventional loan if I seek investment from family/friendsApproval statusGoal is to get pre-approved now in advance for credibilityMy statsEmployment: Full-time at large bankIncome: low-mid 6 figuresAssets: low-mid 6 figures (including 401(k))Credit score: 800DTI: 2.5% (student loan)Thank you in advance for your support.

Would love to come down to a meetup and get connected:) we primarily flip and do some buy/hold stuff on the side as well as some private lending. 

Hello, I think it’s really awesome that you’re just now beginning and you are already coming to the forums to learn so the first thing you need to do is to continue to stay on the forms and you also need to be reading all of the bigger pocketbook and start listening to their podcast to soak up as much knowledge as you can and as long as you do that, you will have all the knowledge you need to start and regarding your question I do not advise to buy a single-family house just to live in it without a rental property aspect so it’s OK if you want to live in the house as well but you will have to either get a multifamily property or you could also buy a single-family home and rent out the other rooms  now see when you have a property that you use just for your family then you have to pay the mortgage every month which is building your equity, but that responsibility is solely on you whereas if it has some sort of rental property aspect, there will be other people helping you build that equity if you were to buy a property just for yourself that is something that will be taking money out of your pocket every month while as a rental property if you buy right will be putting money in your pocket every month the only exception to what I just said is if you buy a property for yourself or just for your family to live in, you could do a live-in flip to where as you’re living in the property you rehab it while your living there and if you buy right with enough knowledge, then when you turn around to sell the property, you will make profit

I wouldn't buy into that as a smart strategy. 99 percent of wholesalers fail and another .05 percent flail.

Would anyone have any interest in a monthly breakfast/coffee meetup for private lenders and those buying/investing in notes?

@Edwin PerezThe BRRRR Strategy involves buying a property below market value, renovating it, renting it, refinancing, and repeating the process.

Thank you very much for that answer I will look into all of this further.In your opinion should I first line cash buyers for deals like that to understand if they use any finance at all or buy with cash?