Nice way to add water and have instant 100 home portfolio.. then you can just sit back in your barcolounger and let the cash flow roll in.( just kidding I know its a full time job chasing these renters in these asset class's)  good luck with it.

A feeling of confidence and power came over the young eagle and it knew instantly that it was not meant to just survive like all the other animals.It was destined to fly and soar above the storms and seek its own world where most fear to go. 

It was listed at 169,000 and we got it under contract for 157250 with 3,000 back for closing.It's a 3 BR, 2 BR single family w/ a partially finished basement.One of my exit strategies since I must live in home for 5 years in order to not have to repay the 20,000 grant - is to rent out then3 brs up stairs with private bathroom, and full house access for 1,000.I test posted an ad on Craigslist as was getting 1 person a day interested in it.I would live in furnished basement and after 5 years and 20,000-30,000 of mortgage paid down by the renters - hopefully sell for the market value or hold for my rental portfolio I am starting.It was hard to use the calculators for this because I was renting and living but I calculated 1400 expenses including 5capex   5% vacancy full landlord utilities and all that jazz.Seems like it would still cash flow $100 if you could rent it out for 1600-and break even for 1500.But I was more or less thinking of getting some instant squirt to pull out later in 5 years after sale or just in general to use for more deals.Also wholesalers in Rhode Island I am looking for you.

There are plenty of properties that you can purchase for 80-90% of ARV that will give you instant equity and a more comfortable first purchase. 

It was very disarming and I instantly liked the guy.

Which means if your parents make you one tenth of 1% of the company, instantly urine owner.

@Douglas Snook  how does title work in your state.. do you use title companies or is it attorney driven and you have to hire an abstractor to run title.. or can you simply call your title company like we do and in 2 minutes you have a TRIO showing last recorded deed and mortgage e mailed to you.We are seriously spoiled here on Left coast when it comes to instant and free information on properties. 

If you need me to explain, let me know.Bottom line, if you are not getting instant equity for the property in this wholesale deal KEEP LOOKING! 

I liked the idea of gaining "instant" equity and being able to cash out after a year and invest it back into websites.

I instantly put it under contract.