❌ Previous Rent: $1,100✅ Post Reno Rent: $2,000 (plus utilities)Original Underwriting: $1,900$900 monthly rent increase$10,800 additional income per year (excluding utilities)We spent $35,000 for a premium level renovation.= 30.8% return on investment (ROI)We target an ROI between 25% - 35%.

In addition, how much time do I have to find an escrow company before closing?

If you don't have the "dough" you don't have the "go".Based on what you are saying you will need 20% down payment for a rental + closing costs + operating reserves (in cash).Most people will not have this--some will do what they need to do to get it--some will not, some can not.A good first step might be to save up as much as you can for a year in a special savings account--by living frugally for 12 months.Then explore down payment assistance programs in your area for first time home buyers of a primary residence--if you qualify (and the home is in a good area for your 'Family" vs Gunshot Alley, then buy a home for yourself and your family.Getting on the track of being a homeowner will give you some additional strength, after a few years of ownership, re-asses your situation.Or work 2 jobs and save the 20% down, closing costs and operating capital you will need, but if you do that and your wife divorces you for it, then you will be in a worse situation than you are now.In the mean time, [1] read Rich Dad Poor Dad, and [2] have fun with your family doing things together (while you have the time), rent a boat for an afternoon, go on a pic-nick, hike in the woods, etc...

Also, would love to talk with any of you separately to gain more insight on the area as well as my thoughts. 

So, most are working a w-2 job full-time in addition to real estate investing.

Hello BP,Let's say Johnny buys an investment property for $165k in the state of Texas and puts $30k into it for a total of $195k; the property sells for $300k 2 months later.Johnny has had some experience with flipping homes (primary residence) in the past and is aware there is a limit on capital gains tax for profits under $250k.

If I didn't find a fund I liked I would look to build a team of professionals that were intimately familiar with how opportunity funds work.In a nutshell, you can pay zero Capital gains taxes if you invest the funds properly. 

I have a six-figure W2, and I receive stocks gifted to me and bonuses totaling upwards of an additional six figures a year.

Very eager to learn and gain knowledge and wisdom from those that have gone before me.

My post isn't meant to argue your idea, but more to contribute additional thoughts to the discussion.Thanks for the response and the discussion.