Closing on two this week All the best 

In your case, if you have $100,000 on the sideline I don't know if I would necessarily invest all of the capital unless it is in at least a B neighborhood and play the long game, rather than invest in the more volatile markets and swing for the fences.

Property Manager in that geographical area had a father that was a handyman.   35K into it and the property was somewhat pretty  and we converted it from a two bedroom to a four bedroom.It appraised for 160 so I did a cash out refi.

I had two questions to seasoned investors:1.

Plan is to add two additional units to the bottom floor and remodel the upstairs unit. 

However, I would rather use private lenders' money and I have it ready, which are from two close friends.

I'm still new to the game and am very open minded to any critique/advice you might have. 

For example, the same house that is one or two blocks over on a quiet street should be more expensive. 

The local HML can usually pull the trigger much faster than an outside person does because more research has to be completed to asses risk in lending for that area.This is why local HML lenders rates might be lower than a national HML lender that prices a few percentage point higher and one to two points more to price in the unknown factor of the area.

As two veterans just starting out in real estate rental investing, our goal is to share our unique perspective and the key lessons we're learning along the way.