Not to mention trying to free up income from W2.)

Excited to share that my wife, Stephanie, and I are stepping into the real estate world!

-with that said, yes, people are definitely 'overpaying' for distressed properties. i just got outbid on one the other day here in Pittsburgh. 

What's up everyone!

Purchase price: $200,000 Cash invested: $43,000 House with a separate one bedroom/one bathroom on the second level.

The WORST solution is an unqualified attorney, because their mistakes makes whatever they come up with INFERIOR to an “off the shelf” solution.In between the two we have a good off the shelf product by a reputable vendor.  

So outsourcing some degree of property mgmt would be a must... but the deal won't work paying a local property manager a large % of my revenue...Instead, I would set up my "boots on the ground" (cleaners, handyman), and would need an offshore virtual assistant to manage guests and coordination of my local team. 

HI Ryan,Personally I recommend just sticking with hard money,It gives you flexibility on the acquisition price, liquidity and a line of credit to fund your rehab.

Or should I just start at $430-450k to begin with. 

I also wouldn't be opposed to using a 203k loan to finance and renovate a multifamily to house hack and rent out (I know it's a lot more work and harder to achieve but I think the potential could definitely make it worth while, especially with the up coming changes going into effect soon).