I understand the area and market.How did you find this deal and how did you negotiate it?

It would probably be better to find something else.

We will always find a solution :)

This isn't including other expenses I know but I was planning to self manage the property and hope rates continue to go down so I could refi in the future and gain more margin in rental income.After further analysis and speaking with a friend thats a real estate agent I may want to shift my original plan and sell it.

So go find that local person who teaches cheap classes, or provides a 1hr overview at a local REIA.Read the book the 16% solution for a general overview of concepts and ideas.

I have been trying to get into WholeSaling real estate to extent from the other real estate investing I do.

There are a lot of loan officers sometimes new to the business that send out what is known as a "teaser rate" More than likely you are also paying 1.50 to 1.75% points for that rate and you should "Never" pay points just use a real FDIC Bank instead of a "Lender".

You may need to hire someone with a thermal camera to find the actual source of the water.Otherwise, everyone will have their opinion and suggest an expensive repair that wastes your money.

Having come into the real estate business during a challenging period in our own lives, we understood hardship firsthand.

I am new here in Bigger Pockets and I purchased a rental property in San Antonio, Texas back in 2019 with little knowledge back then, in real estate.