I was gifted the house.it was paid in full, so it has no current mortgage. if I sold it right now, i can turn a $40,000 profit free and clear, because 40 is a low ask for it in all honesty, so the rehab cost would be my only expense.in response to 3, the $1320 figure includes payback on a HELOC, that I plan on using for the final project of repairing the siding. it also includes taxes for the year, CAPEX, vacancies and repairs.id recover my 70K rehab costs back from rent in 5 years. and then also would have about 120K in equity by then assuming the property doesn't appreciate or depreciate, thats a 50K profit within itself.should I be trying to make more than that?

Getting a loan for construction is intricate (not so much about the actual know how) but also assessing holding costs, permits, zoning, ARV, ROI, etc etc etc Now, don’t let me stop you… some of you are fast learners! 

I bought a screwdriver set, went over to tighten the doorknob, gifted him the screwdrivers, and told him "next time, you don't have to wait for me.Make sure you feel comfortable with the neighborhood.

You would need gift funds from family/friends or have someone who has the downpayment to sign with you.

Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation for the refinance transaction.Note: Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan.The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).All other cash-out refinance eligibility requirements are met.

I'm learning all I can about real estate investment and will close on my first deal very shortly.I've had the pleasure of serving as a US Army Infantryman for 15 years, General Contractor and Federal Law Enforcement Officer, all of which have brought me to interesting places and met several friends.I have been blessed with an opportunity for a family sale with a gift of equity to get me started on my first duplex and look to close in January.God willing I plan to reach my "Feedom Number" of 12 units by retirement 15 years down the road.The information found here has been immensely helpful and I look forward to  future conversations with members!

Rich family members could give you a gift.

I'm considering acting as the bank and lending to a sibling who is buying a house.1) Is the interest I receive taxable as interest income, or can it be considered gifts between family members?

Also you should get a contract before the following:1) A wedding gift: They are required to send a thank you note and a Christmas card2) Nephews Birthday present: Should be required to call with a "thank you"and dog sit on a future weekend3) Mother asking you to come over for Dinner: She shall be required to sign a contract that she will be making the "Coconut Pineapple upside down cake"4) Elderly neighbor shoveling snow and you help: Should be required to sign a contract that they will wave every time you pass and inform everyone walking a dog that you are a "standup guy"5) Wife makes dinner: Should have you sign a contract that you will be doing dishes every time she cooks.6) A contract should be written stating who is tracking and paying mileage out of their paycheck for doctor visits as well as if she needs to help your parents, siblings, childhood friend and expected compensation.

So you are saying to door knock with gifts?