They have minimal expenses and net me $650 cash flow, after all expenses (including repair reserve).

I have a very time-consuming day job so will be looking for minimal rehab or turnkey.

Their income has not changed or very minimal.

Although I would argue that we spend as much time on this business as our day jobs, my main goal is to minimize the taxes paid on the supposed income that we haven’t yet realized.

I always thought a line of credit based on equity needed minimal if any underwriting.

Due diligence on condos can be straightforward because there’s so much information available.A newer property, close to home, good location, with minimal rehab – and assuming positive net cash flow – is a great way to cut your teeth.

Welcome to Bigger Pockets.You will make mistakes, but, at 25, time is on your side - be bold, but not foolishly so, while you are young and have minimal to no family obligations.

Anyways it was very hassle free and paper work is minimal.

The receipt would say that I spent $100, but it would also indicate that I used a gift card.

Hey guys, What would your max offer be on the following property:Duplex (950 sq ft each) - 2BR / 1BA units.  30+ yrs old.MONTHLY INCOMERents: $500 x 2 = $1,000/month.MONTHLY EXPENSESVacancy loss (@ 8% or 1 month): $80Property Mgmt (@10% only when occupied): $100Property Taxes: $70 (from PVA)Property Insurance: $75 (estimated)Ongoing Repairs/Maintenance (@10%): $100Cap-Ex/Maintenance Reserves (@10%): $100TOTAL MONTHLY EXPENSES: $525 (which seems in-line with 50% rule)FINANCING20% down, 30 year fixed loan, 4.70% interest rate.Principal & Interest PaymentAt $55,000: $228/month --> Monthly Cashflow (CF): $247At $60,000: $249/month --> CF: $226At $65,000: $270/month --> CF: $205At $70,000: $290/month --> CF: $18Purchase price will likely be between $60,000 - $70,000, but want everyone's opinion.REPAIRS NEEDEDAt first glance, minimal repairs seem to be needed:1.)