This is true even for people within our personal and professional networks - there's no telling how trustworthy they are with money without looking into their backgrounds.

A pre-approval from a hard money lender will normally have its own appraisal contingency, so a sharp seller's agent will treat it like any other loan and not like a true cash offer.2.

That's true passive income right there.One thing you lose though is CONTROL but the more control you want, the less passive the investment becomes.

.- Very true. lol.

Either way very skinny deal. and I suspect your TRUE cash flow will be far less than 600 bucks once you factor in all the running costs associated with leasing the property.

I would say if your place is in a true vacation rental area, that views can help.

yes it is very true Jacob, but there is a certain market where there is much more chance of succeeding than other I think.

Lessons learned: Understand the true rehab cost when evaluating abandoned homes.

Hi @Misa Nguyen this will only work if you factor in the true cost of buying, holding, and refinancing, and you will not be able to pull out all of the cash you put in unless you can drive the value of the condo up somehow. 

@Nelson VanNot having to worry about the roof/siding because of the HOA isn't really true.