I am NOT interested in owning any more real estate (retired here man) so I had planned on just paying my 15% long term Capital Gains tax rate and moving on to my "safe money" retirement program of MYGA's / CD's and High yield Savings account / Bonds / some Stocks.

.- Create a detailed business plan: Outline roles, responsibilities, and how you'll handle decisions and potential conflicts.- Build a network: Connect with real estate agents, wholesalers, and other investors to find good deals.- Educate yourselves: Learn about local market trends, zoning laws, and permitting processes.- Set realistic timelines: Account for your full-time jobs when planning project schedules.- Budget carefully: Include a contingency fund for unexpected issues.- Focus on high-ROI improvements: Prioritize renovations that add the most value.- Document everything: Keep detailed records of expenses, work completed, and agreements.- Consider liability protection: Look into forming an LLC or other business entity.Starting with cash is a smart move to minimize risk and learn the process.

Hi Eileen, I sent you a message with some details.

And the more motivated the seller is, the more willing the seller will negotiate terms and price. 

It really depends on what strategy your trying to implement as some areas are better for STR/MTR then long term and vice versa.

(Not that they actually set mortgage rates - but they influence them.)You now know that as you look at 2/1 houses that anything priced near or above $145,000 isn’t worth pursuing in the short term… so you look for ones that are cheaper than that.  

They also changed their terms prior to closing.

With the hefty down I'd aim for a lower I/O rate of 5-6%..Conventional terms would be in the high 8%'s.

Honesty and transparency is simply a profitable, long term strategy to build sustainable source of income and not end up with huge fines or, worst of all, in jail. 

Just forgot to tell tou how thankful I am for the detail!