Learning how to repair things is super vital, especially when you're first starting out.  

I would want an appraisal that equals the purchase amount.

And if the portion allocated to investment is at least equal to the net sale of your old property then you've got a scenario that would work for you to 1031 into something that you live in part of.The IRS does not really care where you get the money from. 

Should use increase beyond $240 for a particular month, the overage will be split and charged to the tenants equally."

.- vital-importance-mentor https://www.biggerpockets.com/...- get-ready-to-invest https://www.biggerpockets.com/...- get-your-head-in-the-game https://royallegalsolutions.co...You might want to read and follow these threads:advice-to-your-20-year-old-self https://www.biggerpockets.com/...financial-advise-for-getting-started https://www.biggerpockets.com/...how-to-prepare-for-a-career-as-a-flipper https://www.biggerpockets.com/...new-to-wholesale-real-estate https://www.biggerpockets.com/...what-is-the-best-re-related-9-to-5-job https://www.biggerpockets.com/...Bonus for the weekend, my collection for starters (read the comments too, and then if you like the author, go check out what else they wrote):- stages-of-investing https://www.biggerpockets.com/...- newbies-learn-real-estate-investing https://www.biggerpockets.com/...- 5-ways-to-know-youre-not-ready-to-invest https://www.biggerpockets.com/...- ideal-vs-desperate-investor https://www.biggerpockets.com/...- how-much-to-offer-property https://www.biggerpockets.com/...- hazardous-attitudes-of-investors https://www.biggerpockets.com/...- 21-traits-scammy-real-estate-investment-guru https://www.biggerpockets.com/...- youre-not-cut-out-to-be-real-estate-investor https://www.biggerpockets.com/...- questions-new-investors-should-ask https://www.biggerpockets.com/...- real-estate-books-beginner-investors https://www.biggerpockets.com/...- what-separates-those-who-succeed-from-those-who-fail https://www.biggerpockets.com/...If that's not enough, ping me and I'll give you a whole collection of blogs and podcasts to follow.Bonus 2: 1) Read at least one hour per day every single day.2) Remember the quote by Jim Rohn "You are the average of the five people that you spend the most time with."3) Check for toilet paper before sitting down.

I know that different rehabs can equal different potential equity positions.

However if you have never invested in the commercial real estate, it is equally important to educate yourself on the process and build a team along the way.Here's a guide for you on the latter:https://www.biggerpockets.com/member-blogs/10850/85351-nothing-will-work-until-you-do-maya-angelou

You probably have not calculated the cashflow correctly.Cashflow is not equal to Rent minus the mortgage payment.Most newbies make that mistake.You can also rent by the room or do AirBnb so houses or duplexes might still work.Duplexes is where I started - I rent out one unit and I even have a roommate on the other.Twenty years later and I now own 1,000 apartment units.

The application deposit is equal to one months rent and becomes the security deposit upon approval.

The higher payments didn't even come close to equaling the lender credit, I came out way ahead.