You could always buy a rental for cash and re-refinance it and pull all of you money back out plus some maybe, also not only would you have you initial money back you would be getting a positive cash-flow from the rental, a tenant building more equity for you and some tax incentives. 

Working on a big rehab that had panelling AND suspended ceilings in the basement, which we pulled down and are now looking for Drywall bids.  

This excludes a large number of buyers at that price point.Finally, if you've rehabbed this property and owned it less than 180 days, your FHA buyers will have to get two appraisals, or one and a desk review, that give it value.Your best bet, given the info, is to pull the property and re-list in a few months.

Hey Michael,There are still some bread and butter areas in Cali where you can actually pull out some affordable properties like in Bakersfield and Fresno.  

It seems like no matter how much I read and analyze, pulling the trigger on the first deal is always the hardest step.

NOw if your a lawyer ,,, lender or RE broker you have some experience if you have none of that then you will go through a learning curve.... or you will be so cautious that it will be hard for you to pull the trigger... the risk are to many to mention.

Mind you, we still needed a substantial amount to pull this off (its Jersey after all), but it sure was a far cry from $70k. 

You will waste SO much time figuring out who peed in the pool or didn't pick up dog poop or didn't pull their clothes out of the dryer or who stole their such and such with a high maintenance placement @Huthaifa Afanah!

But I feel like it will pull in people who want to be near the Tosa strip on 70th & North so I'm hoping to push to B tenants in the next couple of years and really raise the rents and value.

Found out the hard way though usually best to always pull or get the proper Permits pulled.