You start a reverse improvement exchange where the intermediary takes title to the new property in an entity called the exchange accommodating title holder (eat)The eat borrows $100K from your exchange acct to fund the purchase. 

On the other hand, if I'm right, and you tried to save some money without managing him closely, then I would eat the cost and chalk this one up to a lesson learned. 

I never do anything expecting to get time with them out of it or to be able to ask them questions, but over time many of these investors have organically become part of my ecosystem and people that I regularly text with or grab a bite to eat with when we're in the same city.

@Andrew Dincola  Some of my favorite places in Norman to eat: Hideaway Pizza, Neighborhood Jam, and The Garage burger. 

@Andy Sabisch why on gods green earth would you REMOVE a dishwasher and it’s plumbing?

If you get the green light, you can then proceed with the transaction and hire the lawyer directly when you have the review the purchase contract or make an offer.

If the city comes back with a bunch of code upgrades that you did not plan on, that could quickly eat up all your margin.Most insurance carriers will not pick it up a fire damaged property until the fire and water damage is remediated and the structure is stabilized. 

The next book on my reading list is David Greene's BRRRR book.

It's less risk, possibly less reward, but probably more practical for a lot of people than eating Ramen for 5 years, house hacking with a wife, a kid, and one on the way, and praying that the appraisal comes in high enough for you to refinance and try it again or waiting another 5 years for your savings to accumulate again to the point where you can buy another.

Hi @Colleen Prescott, if you haven't already read it, I recommend checking out the book Long Distance Real Estate Investing by David Greene.