is "HGTV Effect"), but if that 5% down is a struggle, taking on a flip isn't a model match, you don't have the wiggle room for the expense overruns that have characterized this type of work since March 2020.Almost everyone falls on their face with this, but there are some folks I know that very recently did a very kick-butt job on the "first time purchase flip to ourselves and put the extra space on airbnb" thing.

I bought this house in March 2021 already renovated with an FHA loan so I only needed 3.5% down and had the house fully booked within 3 days after closing.

I would also consider Schertz, TX 78154. it is adjacent to San Antonio, is still affordable, and feels like it is in the same city. for context I own B and C properties.

Offer was accepted (e-signed, etc) on 8/7.Buyers agent verbally indicated that the existing lease ran through March of next year.The seller forwarded us the lease agreement on Monday - I'd been asking for it for more than a week.

@Grady Dennis I would treat it like a BRRR but you get to drop the B and call it a GRRRR since it was gifted.

I would rip off the band aid by terminating their tenancy, updating the place, and screening your own prospective tenants. 

In March, a selling agent and I viewed a 3plex (I wasn't interested in it) and she told me about a single-family house her childhood friend was considering selling. 

Lumber prices have fallen since March of 2022.

He thinks by February-March of next year a lot could change and some markets could go down a bunch in the next 6 months.

In both options the B and the first two Rs are the same -  I buy using a HELOC to fund the downpayment and rehab, a conventional mortgage to fund the purchase.