It is MUCH easier to invest in real estate with a w2 job  Thanks for the reply Carlos, a career change is totally possible for me but would likely involve about 1/3 to 1/2 the pay I’m getting now so I question is it even worth it or go all in on something I can actually make money at.

As of now we have a date set for them to come do the $13k of work but we have till March 19 before we need a down payment and commit to the work.

@Catherine Frederick, actual Angelino here...I think this is a problematic plan.Remember, whatever equity you create in two years, you'll need a cash-out refinance to access that equity, and cash-out refinance rates are higher than purchase rates.

So I agree with both @John Underwood and @Sarah Kensinger.If it is actually legal, you would have to get it all furnished and ready to rent.

The seller will not push back the closing date in order to do the repairs before closing.

@Chris Murdien   I don't believe you can't actually bill tenants for electricity that you don't pay for or you become a utility company.

Hey Petr, I'm extremely active in the Detroit market (from California).I actually just arrived in Detroit today and will be here until the 10th.

A cash offer means you actually have the cash on hand to make the purchase.

I dont know your actual address but if in Austin then technically yes you would need to get a permit.

I’m learning everything and anything I can by all available means, but would love to find someone in the same market who would possibly be willing to share their wisdom and potentially walk me through an actual transaction (simply as a spectator on my end, or in any capacity you’d allow me to be involved in).