Note the grand terrace at the main level🤗hope everyone has a great week!

Scams like this have many levels.

Then house hack a 4 plex to start I am sure you can get into one of those in that market which is lower priced than 90% of the US.  

His 40-plus years in real estate speaks for itself, and his unquestionable devotion to providing his expertise, advice, and thoughts here on BP have earned him a level of respect on this site that you apparently are unaware of.He will not condemn anyone simply based off a black and white forum.  

Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

So it helps keep the turnover lower.

Will you get a lower rate waiting? 

With $50k, you likely have enough to get started, especially if you target lower-cost markets or use a strategy like house hacking.

Ideally, no more than 5% over median and no lower than 15% under median.

there was a follow up post where someone got a loan from them but for realistic rates  8% or so and few points.. under 6% private / hard money simply does not exist unless its a family friends type situation. that bank rates or lower right now for new construction or fix flip