You inspect, you may need to negotiate repairs or price changes based on your findings, the bank appraises it to ensure they can underwrite the loan, then you close.If you find yourself anxiously waiting, you can do what the vast majority of investors never do: educate yourself on how to manage a rental.

Investment Info:Single-family residence hard money loan investment.

I would also explore the different rental strategies- long-term, medium-term, short-term, or rent-by-the-room.

I don't know 100% if this is the smartest decision or best decision long term, but that is why I am here trying to learn and understand. 

If their $250,000 is used as a down payment, that would mean there is a loan on the property.

I've been educating myself on real estate for the past 3ish weeks or so but I have about 10k worth of credit card debt should I try and pay it all off so I can get my credit score up and have better approval odds for my first investment loan (I would be using my VA loan).

Total I recover in cash would be around $195k after paying the bank loan and real estate fees.

I envision offering the full gambit of stay options: short, medium, and long term rentals.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $118,000

Cash invested: $30,000

This is a single family property this is rented by the room. The entire house is fu...

There are a few ways to go about structuring the loan for you on favorable terms.