What made you interested in investing in this type of deal?

Obviously with this summer’s market it wasn’t the best decision for making a lot of money but I’ll still make some, learn a ton, help out a neighbor, and got my feet wet!

I'm looking seriously into this strategy.

I'd like to do fix and flips full time but don't quite have the capital to do this from the start.

If you're not familiar with depreciation, read this detailed explanation: https://www.biggerpockets.com/...Depreciation will lower your net income and, accordingly, lower your taxes.

Hey Jeff, this definitely looks like something worth inspecting as a 2.5x is quite large.

This would only leave me with $41,000 to bring to closing + closing feesJust make purchase price $421,000 loan would only be $336,000.

Will this help our economy?

Will a DSCR loan apply to this kind of transaction, being that the house wont be deeded in my name until after I pay my uncle the balloon payment on the seller financing amount?

Not sure if you have a direct question, but reading the questions between the lines on when a property is actually considered to be in service.Facts and circumstances.Generally for a rental property it is "in service" when it is "ready and available for rent" - meaning you are marketing it for rent, and a tenant could utilize a property that day.