Here are the numbers on that deal: Purchase Price + Closing Costs (buy): 181,291$Total Rehab: 18,145$Holding Costs: 6,013$Closing Costs (Sell): 12,564$Sale Price: 220,053.42Profit/Loss: -7,939.41Key Lessons I learned: 1) Be wary sourcing deals from wholesalers.

In addition, I was sent invoices via PayPal to pay for the course I never purchased anything from their website, not to mention, if you read through the terms and conditions there are many unlawful items.

I am considering taking out a HELOC on this property to purchase another property closer to my primary residence.

Why do you think purchase contracts are so long and have such small print?

I used to pay a site visit to every property of which we were considering lending or purchasing an existing note.

I have been living in a duplex househack that I purchased in 2021.

Rates for DSCR on a purchase today with good FICO should be in the low 7s so just run Market Rent Divided by estimated PITI and if you're above 1.0 then you don't need to worry about the appraiser's opinion of that basement (my gut says appraisal gives no credit to projected rent out of the unfinished basement... but perhaps it doesn't matter?)

Eric - See below for my initial thoughts:- The ARV seems a little low for my liking relative to the initial purchase price and renovations.

My wife and I have purchased two FHA financed four-plex's and each tenant, even month to month tenancy, must be adhered to.

Purchase price: $255,000 buy and hold, rental, Las Vegas