Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

It is 100% the buyer's / investor's responsibility to do Solid Due Diligence before purchase. 

Meet with a local banker & schedule a time to talk with a mortgage broker, they'll give you at least a baseline of what kind of down payment options and rates are out there.After that, if you're still wanting to research more creative options, do some looking into seller financing (a very hot topic with good, and bad, advice out there), look into private lenders, and commercial financing options.If you're wanting to live in 1/4 of your quadplex, then conventional residential loans may in fact be your best option as you can purchase that with a fannie/freddy loan with very low down, and use up to 75% of the income from the property toward your own income. 

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions. 

If the unit is empty, change the locks, clean it, and get it rented.

This sounds like a home run and a great first purchase!!

Best toilets I've purchased. 

I have helped quite a few investors dispose of their 2-4 units this year and they have been cleaning house.  

Since then, I have started my own cleaning company specializing in Airbnb Turnovers, Commercial Real Estate, and working with Realtors to help create memorable client experiences.