Typically there is between that point and closing (when you actually own the property) there are several weeks or months for due diligence and for financing to get lined up.  

Domenic - 1) Yes the 100K is for the down payment and I will secure conventional fund for the balance.2) Yes the property is turn-key and is profitable already.3) The current actual cash flow will allow for a 15% return on the initial 100K.

@Eric Doss,You should come to MIG's October 2016 monthly meeting.When: Thursday, October 13, 20166:00 PM to 9:00 PMWhere:Hilton939 Ridge Lake Blvd38120@Curt Davis is actually doing the 6pm early bird session about getting started right in real estate.Here are the rest of the month's events.

I actually work with an Insurance broker that I know the owner personally, so i've ran several scenarios by him on this and he says there are no issues whatsoever.  

I am actually a realtor, licensed in both DC and Maryland, which we have an active real estate market and a competitive investor market as well.

I was actually thinking about expanding into redlands eventually for student housing.  

It usually takes me a few days to find a tenant and then maybe up to 30 days before that tenants actually moves in.

Apparently, the theoretical models showed that passive house standards would cost just a little more than normal building costs to get much better energy efficiency, BUT when it was actually put into practice it turns out that the passive house building codes cost LESS than the previous standards to build and are more energy efficient.  

Jered Sturm thanks for the introduction, I actually listened to your podcast yesterday, congrats on the success!

I'm still on my journey but just wanted to know that with an FHA loan do I have to actually "live" in the property for a while?