I would do nothing with it right now as the cost to borrow it is too expensive and real estate returns have been compressed.

Circumstance of needing a place to live with the intent of selling for a profit mitigating costs How did you find this deal and how did you negotiate it?

So having said all that, properties that attract high quality tenants (location, location, location) cost more and have lower returns.

Or a $500K property with a rehab budget of $200K and $35K for carrying costs and an ARV of $1M.

I got a structural engineer to look at the house and he said I would need to take out the floors from the top down redoing all the floors and most of the crawlspace and that would likely cost about 20k.

I have been trying to gather as much information as possible and make sure that I don't make any costly mistakes right off the bat.

Take the selling price $750k, deduct selling costs ($50k?)

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.

We're also getting some pretty sweet deals on new construction with closing cost incentives.

Hello, I currently operate a rooming house, and the insurance cost is going up every year, and it is getting ridiculous.