While it offers a valuable starting point for understanding the market trends, it may not capture the full range of price fluctuations within that area.

I am using formulas found on BP and I understand they're just a baseline but it will take some time to learn how to squeeze those numbers depending on the deal. 

They are entirely workable, but you really do need to understand them to approach this topic with the right mindset for success.The best way to truly get educated will be to get on the phone with an expert like @Dmitriy Fomichenko or a similar provider of checkbook IRA programs. 

As I understand, interest rates for investment property are priced higher.

Make it a point to sit down and review the different real estate investment properties you can invest in (single family, mixed use, office building etc), talk to industry professionals to understand the real estate market, research industry trends and available properties, work out your budget for this investment (an example of some expenses to consider can be found in our article on house flipping expenses), and come up with contingency plans in case things do not go according to plan.It might sound like a lot of work (and it is), but you will regret not doing this should your expensive deal go sideways and you are left scrambling to find a solution.

I understand HML have lots of associated costs to them but the main reason im considering this option is because the home is listed way below market value and is a cash only property.

It also helps to have a strong lease that is easily understandable, and be quick to enforce violations.

This strategy requires a good understanding of the local market and renovation costs.Real Estate Partnerships:Form partnerships with other investors to pool resources and invest in larger real estate projects.

However, it’s essential to understand the tax implications and ensure that the financing strategy aligns with your investment goals.

We understand that real estate transactions can be complex, especially when family is involved, so any advice or personal experiences you can share would be incredibly helpful as we navigate this journey.Thank you in advance for your insights and assistance!