I would love to hear some stories and experiences from individuals who have decided to pursue this either as an alternative career, or simply supportive to their already existing financial situation.

I agree if you cant provide supporting docs you don't deserve a high price offer and the property could go higher if he had documents but without them the highest I could honestly see paying is $170k

Thank you everyone, for your ongoing support!!

Keller Williams is supportive of full and part time agents.

One thing to note is this is a few hours away from me and I am still working on establishing my support network in the area (maintenance calls, turn-over prep, showings, etc.) - so showing-up to do a bunch of showings is less than ideal. 

I am actively looking for an acct who supports our RE Pro status.

@Christopher ChunnWelcome to BP from Newbie in the Bayou area of Houma, LA.This is a great place to be with plenty of support and information.Just reach out when you need help.

I did check into what the area is supporting for rents and I'm confident I could get around 1300-1500 per month for the home.

The foundation is also a bit of a concern, as it's secured with wood beams, and those really should be metal or have metal supports attached to them, I would think.Now, we are revisiting the deal.

Unless that car itself is somehow supporting a business which generates its own IRR, this plan in no way makes any sense.Car loan is almost always going to be cheaper than a HELOC.