He told me that without installing a sump pump system (at a cost of $12k), the foundation will continue to deteriorate, which could eventually lead to bowing basement walls—an issue that could cost upwards of $50k to fix.The inspector asked if the previous homeowner disclosed any water damage.

Was cash invested including rehab costs?

Closing costs, necessary cash reserves, and the expenses to get a property market ready are more than most first time investors think.I have nothing to sell and would be happy to help if you think that I can be a resource.

-While rent would be more expensive month by month, the idea of being able to take my equity out of my home and also being able to reduce annual repair costs, property taxes, etc. does seem appealing to me. 

While it will not reduce the actual cost it will help with the monthly cash flow.I am curious if this was a single-family house converted into a double.

Take a bit of that money and invest in learning - go to meetups and the many events that take place related to investing in the city - some for free and some paid.

Check out FilePlace, where user-created forms are available for free.

2023-2024 DECIMATED my already broken finances and killed my 15 yr run being debt free with paid off rentals and a house near the beach in the Ca.

I am bullish on the FHA 203k and home-style renovation loans that allow you to leverage the cost of your renovation as part of your mortgage, which is just an insane deal, in my opinion.Do you have a specific area where you want to purchase?

It will cost less than $150,000 and will need moderate renovation work.