Purchase price: $122,000 Cash invested: $41,000 Value after renovation $175,000.Closing $ 31,000 Renovation $ 10,000 How did you add value to the deal?

Quote from @Jonathan Snider: I have been saving up for a while to purchase my first STR.

@Alex SchumerBookkeeper – Handles day-to-day financial tracking, including expense categorization, reconciliations, and generating reports like P&Ls.

Purchase price: $305,000 Cash invested: $25,000 Residential single family residence rental.

It was a fun realization so I thought I'd share it here.I purchased my first real rental 11 years ago off the MLS for 108k (put 20% down).

I am completing my due diligence on a possible motel purchase in the Lake George/Lake Luzerne area. 

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

If the land is included with the mobile home, there are DSCR lenders that will be willing to lend up to 70% LTV as long as it is not a rural area. 

Consider partnerships or private money lending to boost purchasing power.

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.