If you can get the small multi-family, I'd consider starting out with a conventional mortgage at 5% (when I bought my place, that was the minimum for a conventional non-FHA loan, which gave me a much better interest rate than an FHA - since I had the capital, that was a better option for me).

For example:Everything I bought this year I did it with just 40k out of pocket and I am grossing 10,350/mo!

I bought a 5 plex in Roosevelt, about 30 minutes from Vernal, about a year ago. 

This is exactly the strategy we employed when we bought our building. 

I need some help on an off-market deal I got from a bandit sign.The home is question is about 1mi from EMU in Ypsilanti, MIThe home is a 6bd 2.5ba at about 2000sqft.Gross rents are $500 per room so $3000.Overall the home is in good condition and just needs a few grand of work.The guy bought the home and did a lot of work in '12.

The current tenant claims they were there when he moved in...... in going through my records, my move in agent and the tenants placing agent have no record of a move in condition sheet filled out by the tenant.Lease states that if the tenant does not submit one, the house is considered damage free.House bought in 5/2014..all new paint....one tenant previous for 12 months...this tenant for the remaining time until now.My agent did the walk through post last move out and did not note any issues where she felt I needed to repaint except one room, which I did.Since its so many walls in different rooms, the estimate is $1000 to repaint these areas.So the recent tenant is claiming they were there already and its normal wear and tear and is my responsibility to fix.My position is that there is no documentation of his claim and if he had just left them alone I could have fixed the issues way cheaper since it would have been done correctly from the start....it would have been way better to just leave a bunch of nail holes in the walls than have blotchy paint everywhereOpinions?

I have been doing the A B C in my purchase contracts for longer than I can remember.. starting in the late 70s  .A  CashB  cash and seller financeC  cash and 3rd party loan.D  Sub too.. but for me I would not buy sub too unless it had substantial equity I always wanted room in the deal no matter how I bought it.. 

But sometimes I am limited in what I can do in a flip due to constrained budgets or unexpected expenses that we didn't catch when we originally bought the house.3)Our first 6 flips that we did as soon as the 1st showing happened we were made a offer.

Hello,I bought a condo (paid cash) near the bottom in 2010 and its current market value is quite good.

I made this forum for those who are willing to share their experiences and stories of when they first bought a piece of real estate and the journey that came with it.