Also, keep some extra cash on hand in case you don't have renters for a while or need to fix something.

My 2024 goal is to get into my first fix and flip!

@Jacob StraussenWhat type of policy and face amount? 

Cleveland is a great choice for the BRRRR strategy, with the amount of properties with value-add opportunities being abundant.

Specifically, I'm looking for neighborhoods with a good amount of distressed 3+ bedroom townhomes for sale for $120k or less that require a moderate amount of renovation (no gut jobs or major structural issues) and that will get me a rent-to-price ratio of 1% or higher on the final ARV.Thanks in advance for any thoughts/ideas/suggestions!

I just want to make sure I'm not missing any other large amounts that I might have to pay.

Property: Triplex, new entire remodel from the studs just completed and vacant- Unit 1: 3 bed 2 bath - Unit 2: 1 bed 1 bath- Unit 3: 1 bed 1 bathLocation: Long Beach, CAPurchase Price: $1,250,000Financing: FHA 1.75% fixed 30 year- Down: 7%For anyone that knows or has tried to finance a 3 – 4 unit property with FHA, the biggest roadblock is the Self-Sufficiency Test.

Can I use it as colleterial for a loan to add to the down payment amount for a new prospective investment property.

My loan officer mentioned that the title company had the complete package four days before the closing, and my cash-to-close amount was confirmed three days prior to the closing date.

I'd like to take legal action against the tenant to collect the amount I'm owed, but I don't think I can file a small claims case, since the water bill account is in the owners name (the account must stay in the owners name for legal reasons).