Fantastic to hear that you were able to navigate the challenging purchase.

So I ended up using 0% interest business credit cards which I liquidated to purchase and renovate my property (total credit limit of about $95k total).

I created an electronic google doc time tracker: Time LogContemporaneous time log of rental real estate activitiesActivity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDateMM/DD/YYYYSubmit

You want to look at paragraph 12 of the Texas purchase contract, called the 'One to Four Family Residential Contract'.

We are seeing much longer wait times on purchases to be cleared for disbursing funds than refinances.

@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Purchase price: $330,000 Cash invested: $40,000 Hey everyone, I wanted to share a personal story about a property I purchased and renovated in Hudson County, NJ.

The ONLY reasonable deals are:Appliances when purchased if you have a retailer that offers unlimited repairs/replacement for 5 years for 10% of price.

Purchase price: $185,000 Cash invested: $35,000 Sale price: $671,000This was our 3rd home.

It is possible to get 90% of your purchase price and 100% rehab funded as a first timer in 1-4 units.