I responded to her FSBO ad and made my offer which she happily accepted: a 36 month lease option; I'll bring her mortgage current, (1 month, $800), and continue making the monthly payments; option to purchase price of $88K, (my estimate of value, $100K); and I had the right to buy, sell, sublet, or assign the property at any time during the 36 months.

I noticed that robinhood reports much higher numbers than actual purchases to the IRS.

I purchase but and holds so I can usually get you paid more than flippers. 

Purchase price: $190,000 Cash invested: $60,000 Sale price: $355,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Brittney Sciandra, successfully completed a fix-and-flip on Church St, Baltimore, MD 21225.

I thought that loan was based solely on the property that you're purchasing. 

My current primary was purchased in 2018 with a conventional loan.

@Steve Theobald Do you mind me asking what type of experience your BIL had prior to purchasing the FIG four-plexes?

As for my own investments, I also purchased some properties near Mobile, Alabama.

Would appreciate any connections/ advice for an out-of-state investor.thanks Hi Sid, I used Grant Linhart as my realtor for my most recent purchase in Birmingham.

I would add that in your purchase and sale agreement, have your agent add a clause that allows you to review the leases and the agreement is contingent on your satisfaction with the leases.