It's in the suburbs - two buildings (next to each other) with 4 rentals in total.Long-term tenants with total rent = $3050/month Asking Price: $272,000 (I can definitely get it down to $246,000)Taxes: $2300/yearLocation: The city is OK.

With mother in law at $550-$650 could be <$1,300 total)$635/month expenses (Includes P&I and taxes)

In the majority of our loans, when you factor 75% of as-is value for purchase PLUS 75% of the rehab costs, tge amount of money you are effectively able to get is 80-90% of the total of what you will need.  

. ($120,000)B) Fannie Mae DFE who will do "The loan amount will be limited to the lesser of: (a) 70-75% of ARV and (b) your original purchase price plus total closing costs and prepaids on the new loan

I agree with J Scott, you might reduce your total hold time by selling it early, but you risk lower offers and reducing your company image.

I didn't totally see the reason behind it, but before I rehabbed this current unit, I wanted to think it through.

Hey @Scott L. thanks for the question.Do you know what the total rents would be on something like that?

Hello BPJust looking for a little insight from all the wonderful and experience investors on BP, here’s my situationI purchased 3 tax liens last year in Lake County Indiana, two of the properties are in Merrillville IN, the other one is in Gary IN.So here’s my issue, I LIVE IN CALIFORNIA....I’m really familiar with the area and I’ve seen all the houses in person so i know the condition of each.Cost of each property#1 $3800 purchase, $1000 lawyer fee, $2000 back taxed= $6800 total investment.

Totally rehabbed, rented, appreciating, a ton of equity ... a logical selling point.

It all makes total sense.