These properties can be a solid deal for real estate investors, though the home may be in need of substantial repairs.

I discounted my offer substantially based on the major problems described - no documentation or invoices for any work done (so I can't take from previous tenant security deposit now, a primary requirement in the first place) some very vague descriptions of work done, certainly some padding somewhere.

Additionally, am I required to provide a copy of the ledger to substantiate these deductions?

Joseph and Jordan,I just saw an outside view of the homes and they need substantial work.

Just quickly based on the amount of the first and a quick check of Zillow there could be a substantial amount of equity in the real estate.

With the substantial increase in home prices across the state, it has become more challenging to find sound investment options for my clients.

With a purchase price of $62,000 and a sale price of $86,000, the property promised substantial returns with minimal risk.

Inventory is now very substantially above the extreme lows seen in recent years, when inventory in the Austin area fell below 1 month (very extreme imbalance between demand and supply) for a sustained period.Here are the full stats for Austin and the greater metro:Here’s a chart showing the median sales price of a single family home in the City of Austin over the past two years:The median price for a single-family home in May 2024 was down roughly 10% from May 2022, which was the most recent pricing peak in the Austin market.For some context, here’s a chart of the median sales price of a single-family home in Austin over the past 10 years:As you can see, pricing Austin is still substantially above pre-pandemic levels.

It is important to build a team that understands the unique dynamics of this market.Given your experience and substantial equity, sounds like you're in a prime position to capitalize on new opportunities. 

They focus on the property’s income potential rather than your personal income, which is perfect for rentals.Tapping into Equity: Using the $80k in equity from your home could provide a substantial boost to your investment fund.