Prioritizing cash flow, mastering property management, and learning basic repairs can make a big difference.

My gross income is a bit less than $7k (and I'm renting near top of market rates) with minimal repairs ($2k/y), but...1.

Will they have trouble making the payments to you while also having enough money to keep up with the maintenance and repairs/ tenant issues/ all the expenses involved with owning the property?

A turnkey property is already renovated and ready to rent, so you don’t have to worry about repairs and can start earning right away.

Have you assessed how some of the repairs will be funded? 

Last, you can do an unlimited amount of repairs to a home using a 203k renovation loan (up to the FHA loan limit), including knocking down the house and building a new home!

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

So I’d like my property to be close because until I grow I will be doing any repairs and updating.

What is the loan-to-value (LTV) or after-repair value (ARV) ratio that you offer?

These can be used for things like payroll but will get trickier when talking utilities or repairs & maintenance as a lot of those have to do with how old the building is or what condition it's already in