Increase earnings, reduce expenses, save up, then invest.

Context: I’ve been using MLS, realtors and wholesalers to seek out my first investment property (debt free outside existing mortgage, $100k cash saved, stable income), since my network is fairly new and limited as a green investor.

Depending on how you are planning to pay your friend  the profit out of the transaction.

Hi all,I just closed on my first rental property and used all the money I saved for that downpayment.

I'm less certain than you about the reno plan.

If you are planning on doing anything more than a cosmetic flip, buying a property that has already been gutted to the studs saves you time and money. 

Look into the reserves, see what major expenses they have planned for and what special assessments they've had in the last 5 years. 

My girlfriend and I would have a place to live for 6-12months while we save money for a second house.

With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood.

I do plan on investing by next year 2025, but I do want to increase my knowledge a little bit more and possibly find a mentor and work with one just to get my feet through the door, and start investing by next year.