Jair keep in mind “ having family” can not counter balance any additional expenses to purchase in Houston vs DFW for instance.

I think many of us use hyper-consumerism as a means of validating our self-worth.We NEED to upgrade to a new cell phone every year, we NEED to take expensive vacations to show our friends how fun our lives are, we NEED to purchase the more expensive car, we NEED to eat at chic restaurants and document the experience all over our social media.

A few lenders may also require the property to be furnished when you purchase the property. 

My name is Al and I’m a newbie investor looking to learn as much as possible so that I can purchase my first rental.

Are there any restrictions on re-selling it also as a subject to to a new purchaser? 

@Ricardo Serrano this copy & paste info may help...Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

I'm very close to purchasing my first Memphis property.  

Purchased for 72k.

Purchase price: $98,000 Cash invested: $31,000 Sale price: $166,000 We acquired 1212 Ridgmont from a wholesaler, and it turned out to be a straightforward rehab project.

Start a real property management company and run it like a real business and you’ll get clients!