Also, you are typically allowed 2% from seller concessions from your lender, and potentially even more, which can help with closing costs.

Get a thorough inspection to identify necessary repairs and calculate potential rental income versus costs.

Do you have any idea the cost and hassle to move? 

We will renovate the fix up the first floor additional dwelling and plan to rent it out as a STR for the rest of 1st year to maximize the return of our renovation expense against our W2 taxes via the Cost Seg / Bonus Depreciation.

You will need 20% or even 25% down plus all loan and closing costs to make the loan happen.

Know the costs for fixing up the property and explore ways to pay, like bank loans, FHA loans, and local aid.

It may end up costing you more than you hope to save.If you want to finish the basement, hire a contractor for the job and pay them.

Lots of headwinds facing real estate, like the following: Inflation Consumer Debt Lack of consumer liquidity-- renters don’t have first and last month’s rent, let alone a down payment to buyOwners interest-rate lockedOversupply of class A multifamilyStagnation of rent growth on assets aggressively underwritten at acquisition Maturation of term debt combined with stagnant rent growth against a backdrop of rising debt rates =investors unable to meet basic debt coverage service ratios on refinance Market normalization forcing operators and investors to rely on market fundamentals (recently) forsaken, while prioritizing expediency of deploying capitalInstitutional and local investors are both frozen by volatility and cost of capital and debtAll that being said, we feel good about B and C class assets we focus on and the markets we are in. let's connect soon 

We had a nice house, but no car, no money for transportation, no Money to go out (I did go to cheap day movies that were $0.99).  

It would cost more to hire my attorney and go after the EDM so basically left it as is.