Congrats Jodi,Sounds like you got a deal and times it right Hillary ,I’ve been listening ok’ing at flood deals for a while now , from the deals that came my way the wholesalers are looking for 60-50% of the ARV , that doesn’t leave you much room for error , market correction or stigma of a flood home even in a good area .Take off 10% for commissions, legal  & closing on sale , you are looking at best a 12/20% return on investment .Now imagine if the mold situation comes or contractor goes over budget , you may be stuck holding a wet bag If your plan is a rental than at least you have a plan B in place For the best upside of 20% I’d stay clear Of course if you can purchase at 35/45 From ARV that may be worth considering IMO the Flooded homes are going to be in the market for a while - based on the fact many owners are just hanging on and not paying mortgages .

And so at the end of the one-year lease if the tenant moves out can a dude who slept on the couch for two weeks decide he wants to stay?

@Jacob LePretre   Send me a colleague request and lets stay in touch.

I currently live with my parents and they are moving to Atlanta soon but I wanted to stay here in Boston.

We live in Canada (he’s US military) so he can’t live there (although if we get a multi family like we want, I may stay in one unit and go to back to school).

If not -- and because everyone needs a place to stay -- a good first buy is a home for yourself.

It's also important to stay up with your area's job market as well.

We bought the condo before we started thinking about being real estate investors, and were planning to stay for at least 5 years and then buy a SFH.

My advice, if you don't have a lot of experience stay away from D class, and really avoid C class unless you think it is on the fringe of a B area and progress is headed that way.

That's too bad that you moved before using the $500K exemptionbut with the trade war that started in 2018,you might want to sell and stay in cash...