Excited to be able to learn and eventually be able to contribute. 

Eventually, lawmakers realized the negative impact this was having on the real estate sector and created what is known as Real Estate Professional Status (REPS).

- Acquisition Fee - 1% of Purchase Price- Asset Set up Fee - $8,500 total- Asset Management Fee - 3% of income- Disposition Fee - 5% of difference b/n purchase price and eventual sales price- Mortgage Guarantee Fee - 1% of amount guaranteed- Financial Services Fee - 5% of capital contribution of each limited partner- 65/35 Split: After investment repaidThank you in advance!!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $55,000

Cash invested: $65,000

Sale price: $140,000

First complete renovation all but reframing--new electrical...

Anything under $600 is likely a single home that was converted to a duplex years ago and has a 1 bedroom unit. 

Yes, we’d have no mortgage payment, which is huge, but the ultimate goal was to create passive income and scale upwards so that I could eventually retire and spend time with my family.

A mortgage to buy a primary residence is something you are always paying for.So, I personally would focus on generating wealth and income and then eventually when I reached a certain point I would start to use some of that income for myself personally.

Eventually long term I would like to own short-term rentals in my area  

Eventually, I went into a steady state of paying the $200 monthly and gave up after logging in few leads and figuring out my state does not have reasonable deals at my level and given my financial status.

Better to own a few quality properties than a bunch of crapboxes that end up damaged and vacant and eventually lose money.