When we had an appreciating market, high inflation, low unemployment, extremely low interest rates, obvious relocation patterns (especially during covid), there was so much room for error.

And then closing costs...of $10k?  

Your rental returns will be low compared to your purchase price. 

How much does it cost? 

We manage 37 doors with that costs us a few dollars per door per month with no surcharge for ACH payments and we get next business day credit for those.  

So, I generally work with what's there and try to add low hanging fruit amenities where possible.

up from 1989, down from the all time high in 2005, and up from a recent low in 2016. 

Additionally, the property was extremely affordable for our area, making it a low-risk investment with a high potential for a good return.

I'd suggest looking for one with low-no fees as you're getting started out.

True private money is going to cost 10-12% plus deal equity which often makes the true percentage 20-22% on your money vs alternative lending which will be around 12-14%.Here to chat if you want some help comping a deal and putting one together.