My 1st move was from an apartment to a home owner was to an affordable house that needed a lot of work, I improved the cosmetic issues but also added value to the home (finished the basement, added a bedroom and a basement) so right off the bat I increased the value of the home and that built instant equity (kind of like a fix and flip, except I didn't flip it instantly I lived in it) Next was to pay off the mortgage, every penny went into the mortgage, you make sacrifices in your life style but at 25 like yourself that wasn't a problem.

If it is in the same condition or needs cosmetic repairs, I would offer $255K and see what happens.

This spring you buy a liveable but cosmetically dated house (for a low price).  

It would need cosmetic and staging I guessed about $20k of repairs.  

If you do routine inspections you are able to head off any problems or note items that need repair.

Currently we are doing all cosmetic work ourselves but want to switch out to a contractor for much of the next so we can get 2-3 flips after May.  

Property needs a master bath and cosmetic updating but is in otherwise pretty good shape.When initially discussing this with the HML, I suggested dropping interest rates to avoid any conflict with HOEPA/Section 32 requirements, and having a side agreement whereby providing them consulting fees for my blossoming real estate business.  

Schedule the "routine maintenance" at their convenience, and it's even less so.

I was at 14% on my first and expect to come in around 10% on my second.What non-cosmetic items will be included in your 22k rehab?

This property is a deep water home overlooking a marina and  may become our primary residence.All renovations are cosmetic and I intend to do most work myself.