Personally we just do option 1 or 2, it's easy to explain and understand, and even if option 2 only recoups you 80% of the cost, that's better than 0% or the headache of trying to figure out option 3.Again make sure this is all allowed for your area

We also sublet our own personal home that we own. 

I personally think 2% is reasonable, especially if he found the deal and did all the work to get it over the finish line.

I would do research about the process of getting licensed in your state and what costs are entailed, then see how you feel!

(and I have full time job so time is limited)Here’s a breakdown of my investment plan–I would greatly appreciate any guidance and recommendations on making this (or some version of this) happen.PropertyLocationAttributesB-level areas (A-D scale)Safe enough for my girlfriend to feel generally safe walking alone in the eveningWalkable neighborhood / close to transit (car ownership not necessary to live there)Area(s) of interest (not set in stone)Jersey City areaConditionB or C-level (A-D scale)Semi-distressed with potential for minor rehab upgrades ($35k max)DealbreakersFoundational issues / big required rehab due to FHA 203(k) max for streamlined versionSize2-4 units (higher the better)2-4br per unit preferredMax Budget (FHA loan limits)NYCSingle-Family Home: Up to $1,089,300 + 3.5%Duplex: Up to $1,394,775 + 3.5%Triplex: Up to $1,685,850 + 3.5%Quadplex: Up to $2,095,200 + 3.5%Hudson County, NJSingle-Family Home: Up to $1,149,825 + 3.5%Duplex: Up to $1,472,250 + 3.5%Triplex: Up to $1,779,525 + 3.5%Quadplex: Up to $2,211,600 + 3.5%TimelineTitle in-hand latest: Jan-Feb 2025Can potentially buy earlier if I sublet my current apartment in NYC as needed (lease expires Mar 1, 2023)Rehab: 30-45 days max of minor rehab/renoMove-in: on or before Mar 1, 2025 (hard deadline)FinancingLoan type: FHA or FHA Streamlined 203(k) for rehab <=$35kPossible conventional loan if I seek investment from family/friendsApproval statusGoal is to get pre-approved now in advance for credibilityMy statsEmployment: Full-time at large bankIncome: low-mid 6 figuresAssets: low-mid 6 figures (including 401(k))Credit score: 800DTI: 2.5% (student loan)Thank you in advance for your support.

If you’d like to chat RE strategy or even how to navigate the cyber career scene in SA then feel free to reach out any time.

I personally think networking & closely monitoring other creative deals done by which attorney would be a good place to start.

Purchase price: $453,000 Cash invested: $80,000 Personal property and first real estate deal I did as a realtor

Feel free to reach out!

I feel like a gambler who got pretty lucky in Austin and I would like to get out of there while I'm ahead, as it is still a correcting market and houses are quite expensive.