Purchase price: $1,500,000 Cash invested: $50,000 Duplex was in foreclosure.

These are huge wins.Also, get your finances in order and get pre-approved so you are ready, willing, and able to purchase which will allow a realtor to take you seriously.

I am getting ready to purchase my first rental property in Oklahoma City, OK and I’m looking at an home that is priced under $80,000.I plan to put 25% down to get the best rate.I’m from California and haven’t run into this before... but it seems like there are lending minimums and a conventional loan of $60,000 isn’t something I’m finding easily.I could likely get a hard money loan or get a HELOC on my primary residence and purchase the home with cash... but I don’t like these options because the interest rates are higher than a Conventional loan.Besides hard money or a HELOC, are there any suggestions on how to get this smaller loan at a reasonable rate?

It's a fairly easy process and the bank works with you on the purchase to handle the funds through the 1031 exchange.If you have any specific questions feel free to reach out I am always happy to talk REI!

He purchased it a year ago for $325kDuplex listed for $396k Offered $350.

Here’s a quick overview of my situation:•I purchased my first BRR rental property for $81,000.

Full doc, 20% down on purchase and rehab, hard credit pulls, for a loan you intend to get in and out of.

The purchase price is 225K and property was built in 1910 around the Harrisburg, PA area. 

I called Zillow and they told me they don't handle lease cancellation or changes but suggested to contact local attorney (I am in Texas/Austin). a) Take some penality and allow tenant to break the lease. b) take re-letting fees, list the house again and current tenant is bound to honor until it gets leased.For both a) and b) I will still have to contact attorney as Zillow does not let me cancel the lease but only mark the lease cancelled once it is done. 

He has all the numbers and can show you how purchasing a home on a 30 year mortgage is wasting 100's of thousands of dollars because of interest, etc.