If you want to build equity quickly, some level of hands-on involvement is key.

So I do not have a tax filing with the rental income on it yet.

There's many other options in real estate such as syndication and note investing depending on your level of involvement. 

I've never done one personally but my understanding is it involves the home being put into a trust, with the sub2 purchaser buying the trust from you.

Prayers to all involved

The same players involved with some additions along the way.

As others have said, you will get lent more money usually with rehab involved than on a straight acquisition loan.

I read the fine print and found that the 90 day guarantee and how to get the $1,000 invested back involves actually sending him 2 qualifying deals.

Definitely filing that under “things I’ll do differently next time.”About the appraisal discrepancy—it’s frustrating, but you’re probably right that it’s not a huge shock since I didn’t make any changes to the property.

The legal fees and filing fees for the Reg D package average about $10,000 or so.