House hacking is the way I would start to buy a home to live in and then rent it out and start fresh after you have the reserves built up to do it again and rinse and repeat. 

You will not be able to hold this property at a 12% loan and make moneyAlso your closing costs appear way off.

Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.

Feel free to post there with any questions but we've been using that post for many years and it still holds up.Thanks!

If you guys cannot seem to make sense holding a property that produces little to no cash flow, try doing some flips! 

Hello everyone, I live in Southeast, Pa and was thinking of getting into buy and holds.

@Farah Tatis would advise doing a few local flips as learning experiences, before trying an OOS flip.If you're looking for a buy & hold market, check out some of the great things happening in Detroit in 2024.https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

and spend 20k in renovations, the property should be worth more and I can rent and hold it.

Looking forward to what the future holds.

The second way is to plan on proceeding with the purchase whether or not you are able to “flip” for a profit.The key point is that many, maybe most wholesalers use various “weasel clauses” to back out of a contract that isn’t immediately profitable for them, leaving the seller who thinks he has a “real” sale holding the bag.