Many times a lender buys a property back at a sheriff's sale/auction where they are selling properties as part of a foreclosure.

We were there looking for another property that we could buy together on the beach that we could rent out as a short-term vacation rental.We we're living it up and having a fantastic time zip lining, eating delicious food, and seeing the monkeys in the wild.it seems like from the moment I returned from that trip in August 2022 the real estate market completely changed.

Moving and buying your first piece of real estate is a lot in the next year!

@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There will be many situations where you can help a homeowner save their home -  however, in other situations they just want to sell quickly which provides a wholesale, fix/flip, buy/hold opportunity for you. 

If you’re serious about buying properties and doing real estate, then I would suggest working with the CPA that understands real estate even if the services cost more than your average H&R Block or some TurboTax program you can buy.

It may be more difficult to get financing and a good rate buying through an LLC. 

We typically buy and hold but it would depend on the numbers for this project, we'd be open to either BRRR or fix and flip so there's a few possibilities.

To avoid pitfalls, research liens, check property conditions, and set a max bid before buying.

I used a portion of my entitlements to buy a rental I still own at my first duty station.