I paid 160K cash for that one, spent about 30k again and have it rented for $1,895/mo. 

He will now have a higher mortgage payment to me so I can make a small profit, but he gets to stay in the house and not have to pay much in equity to her.

Purchase price: $12,500 Cash invested: $130,000 Sale price: $204,900 Purchased home and completed a complete renovation of the property.

I have about $300 on my credit cards (just finally paid them off for the most part, and have about $20,000 limit).My cash on hand is relatively light, but what my plan was was to find some single family homes in the north Detroit area (currently anywhere from $40-$60k and put about $15-20k tops into any repairs or fixes (not looking for total rehabs, mostly something I can do some small repairs here and there and paint, personally I am knowledgeable about renovating up until complex electric and plumbing).

(Like 2 years of verifiable rent payments) as an example.  

I will add we took out a loan to buy the home for 20k along with extra cash to put into our home to make a "home office" out of the attached garage we never used except for storage so we added even more value to our 156k purchase.

My plan is to sell my current house which will give me around $300,000 and in the next 2 years me and my wife will save another $100,000 which come to the total of cash we have in hand is $400,000.

Consider the following: - renovation cost, monthly expenses, potential rental income, cash flow, return on investment6.

Purchase price: $304,000 Cash invested: $40,000 Sale price: $455,000 Contributors: Peter Vekselman Partner Driven, in collaboration with MH Property Solutions, successfully completed a fix-and-flip on W 7th Ave, Trappe, PA 19426.

You may or may not want to keep your current home as a rental, depending on how well it would cash flow.