Sometimes folks use JVs to avoid that, but JVs require participation on the parts of all participants.

It's like an expensive LA building that barely spins off any cashflow.

I checked flood maps and see it is barely outside a flood zone.

It will take up a lot of you time and feel like a second job.Based on what you're saying, I recommend BRRRRing light rehabs until you cash flow enough to cover your expenses.And while turnkey properties are very little work, you're buying a property at a retail price that will barely appreciate.How much capital do you have to invest?

Downloading a one-size-fits-all contract gives you the bare min.  

Well, it's worth what you're willing to pay I guess.Considering the list has been passed around a bunch and prob has some bare min qualifiers, I wouldn't let mere numbers make me pay more.

Fix any mistakes, errors, ommisions, and raise that score. 2) Like many others said, identify and implement money saving tips to your daily life and routine and hopefully build some savings to use as either a down payment or reserves etc.3) Leverage your pro membership to run at least 5 property analysis a day, at the BARE minimum!

Purchase price: $150,000 Cash invested: $30,000 Sale price: $220,000 This was a forced JV with someone I barely know, but it turn out to be ok....

Location - Spring, TXBuilt in 1977, 3/2, approx 1500 sqftContract Price - $120kLocked-in Mortgage Rate - 3.5%, 20% down (no points)Total Monthly Rent - $1450- Comes with Section 8 Tenant (Mom & 3 kids)- Buyer pays title insurance- Big items to account for after inspection (Est $2-2.5k for bare minimum): Tree too close to the house, needs to be cut downOne side of the garage door opener has no outlet to plug into (there are a total of 2 single garage doors)Kitchen sink drain pipes are "amateurishly" doneRusting of the evaporator coil in the attic (20 yrs old)Attic lines don't have enough insulationOne bathroom toilet is cracking and needs to be securedRoof is missing guttersRoof shingles vs flashing wasn't done 100% correct, needs more spaceThe buyer agreed to a $500 closing cost credit.

ARV barely $200K, so it just doesn't make sense.