Venture a little further out to the surrounding metros and the sky's the limit.

I went back and forth with 5 Arch over the last month and I did not like that they demanded a pre-application fee before beginning the underwriting.

Lastly:  When you rent out this property think of it in terms of this example:  "If I buy a property move in ready for 150k with a 20% down payment and finance the 130k at a 6.6% APR for 30 years my mortgage will be around this ball park ($900-$1000 per month)  You want to position your rental to where you can cash flow at least $200 per month. 

I am currently working on a pre approval to start looking at homes.

@Christian M.Hi Christian,My son and I were in Maine visiting my Mom and spring skiing while you were here in SW Florida.

Apr 28, 2022 12:00 PM PST. 

Its 20 minutes from a ski area.

In many cases, borrowing from your close network and issuing a promissory note/loan agreement is 10x better than owing a credit card company (credit card companies can raise their interest and APR)3.

You will need a PR accountant. 

That's not going to happen.If you are purchasing a property that requires sufficient Rehab to justify that ARV I doubt you will be able to get a conventional loan (4.5% APR for 30 years).