It is a 3 bed, 2.5 bath with an ARV of roughly 175k, however, he owes 138k on it.

Trying to line up some last bits of info before I make my first rental property purchase this October.

An order of work as far as budgets, expected work an time lines.

I'm interested in fix and flips and owning rental property (multifamily), then transitioning to commercial property down the line.

However, everything else about this property lines up very well, and I want to pull the trigger or move on asap, since I've already analyzed it forwards and backwards.Here are the details:625k PPcurrent monthly income $5,600, annual income after expenses (utilities, taxes, maintenance, repairs) is 46k, which would cash flow after debt service, but not a ton.However.

I wouldn’t really ask what is the best way to invest, but more along the lines of what is the best way to invest that fits you.

Don't sell your home, just get a Home Equity Line of Credit (HELOC).

I believe there are way's to transfer a property from your personal name into an LLC down the line if need be.

Start your prescreening and have a few prescreened applicants lined up for a showing the day after you close.

As noted you will want a full inspection done on the following: roof, sewer lines (scoped by a licensed specialist), lead paint check (specialist), test for asbestos if you have popcorn ceilings.