Quote from @Carolyn McBride: I'm about to go into contract on a property I want to use as an STR.

I'm looking to buy my first investment property in the suburbs of Detroit (e.g.

The type of loan on your current property is largely irrelevant. 

In the process of BUYING a PURE Option to buy a SFH subject to an existing loan (at a lower fixed long term interest rate)Let say the OPTION "Strike price" to BUY the property IF or WHEN the OPTION is EXERCISED is $300K The seller wants $60K to sell us the OPTION.

I am currently rebuilding my credit and have finally been able to start saving money and looking to get my first property by the end of next year.

Brass tacks:4 months into the dealVisited the property a total of 5 timesHired a contractor local in that areaSplit just about $100,000 between my partner and I.

Also for every 50 props that are up for auction in most states the vast majority either redeem postpone BK sell or whatever so most folks hone in on one property spend all this time and energy and it never actually goes to sale.

Hey all, working through closing on my first investment property, a 4-unit househack in central Wisconsin priced around $400k. 

Hi everyone, I bought a property 5 month ago in Pennsylvania, the property came with a tenant paying under market value rent (actual rent: $550, market rent $1200).

Hello,I am interested in a property which is fully rehabbed, but the property is having laminate wood for flooring everywhere in the house.The numbers work fine for rental income.