I just got under contract for this 5BED/2BATH w/mother in law unIt property where the numbers run great with almost $600 of net cash flow a month, which I believe to be decent for my first investment property, BUT there are a couple things I ran into and am seeking advice for. 1) During inspection, we found a few hazardous things on the property, that would need a $20k fix.

If you find one you like, or a couple you would like to choose from, you can always ask them.

I am just guessing here but I imagine that well over 90% of the investors that make their way to actually see their operation in person end up pulling the trigger.. again just a guess but as someone with 4 decades of expreince at this.. and owning more than a couple real estate brokerages you can tell a well put together shop..  

I know 2 couples that are rebuilding right now where they are going to come out of pocket to get back to the same size house.   

If you don't have any difficult transactions to record, pay a bookkeeper a couple hundred a month to record everything and then throw your CPA an extra $500 at year end to clean it up with some JEs and call it good. 

If you did start out single family and get some equity in a home or two over a couple years you could then do a 1031 exchange and hop into a multi family with less risk due to your equity going into the deal.

Hello Folks, I am finishing up my first BRRR and have a couple of options.

I signed on it last week and it was recorded on Friday with the understanding that the current renters would be out by "the end of the month"  I had to stop by to check a couple things out on Friday and nothing has been packed and there were no signs of people moving out.  

When I did my first lease options, I did a couple of payment programs for the option fee but got burnt every time.

I do couple of FHA loans per month, including manual underwriting and 203K FHA renovation loans.