Assuming you were not tempted to spend some (or all) of it on something else, or there were no emergencies that popped up, you could repeat that method the following year...and have accumulated $24,000 in total at the end of year 2.  

Maybe include a page of frequently asked questions answered.

Just use this as another tool ( a frequent tool ) in your belt.

Then if he likes it, boom: you now have a real estate mentor and you just rinse and repeat moving forward.Hope that helps!

@Jean Pierre, if this is a repeated occurrence, you should document the cause of the damage and repairs made to correct it.

One time is one thing, but if you have felt shrugged off repeatedly, you need to do what is best for you.  

30-40k liquid#1: Anti-American DreamFHA/203k loan (max in our area is 271k, 3.5% down, and PMI)buy a du/tri/quad-plex live in one side for a year and rent other sidesMove after a year. rinse repeat.#2: Semi-American DreamFHA loan/203k to buy SFH for me and my wife to live in, live in 1 year move etc.Conventional loan on much smaller du/tri/quad-plex (100-150k)#3: American dreamConventional loan, get the biggest 30 year note we can and dont think about investing, of course get a white picket fence. ( ; haha

For wholesaling deals we normally do Absentee Owners, and I will repeat and say it again.

Then repeat once you save more.

I get both of my cars rented fairly frequently (40-70% of each month.