Hey Drew,You have to put some money in your figures to account for closing costs and fixup for the purchase part, and for vacancy, repairs, capital expenses, management and leasing costs, and utilities while vacant.

If the lender does not, we 'self escrow' in a separate reserve account (not an operating account or tenant trust account) that includes recurring expenses and anticipated capital costs.

They have to coordinate the execution of the documents with the delivery of the capital (<---- the "important" stuff).

Sure I would "miss" some of the market rally, but you don't have that much capital to play around with today anyway?

Unfortunately, This is not enough capital for me to secure a property for a fix and flip in the area I am in because prices are well about this.

Hoping to create enough capital to rehab and buy then purchase a multi-unit.

Evan, I think you'd find it difficult to cash flow this property.If you use the 50% rule that states expenses (everything except principal and interest) over a period of time will equal half of the market rent per month, you're looking at $1935/2 = $968 as your cash flow after expenses.You could save some money (~8-10%) by managing this yourself, but my hunch is that with that old of a property the upkeep and capital improvements will be higher on this deal than a newer property.

My wife an I do currently have 2 condo/townhouses in addition to our home that we rent out and maintain.My goals are to start out Wholesaling to get my feet wet and build up some capital, while networking to find buyers and private lenders to eventually start flipping and also buy and hold some for long term.Thanks for reading my story!

Ultimate Goal in REI: Enable "simple folk" like ourselves to capitalize on global markets previously available only to multi-national corporate strategies by facilitating affordable, high-yielding property purchases in as many countries as possible around the world (currently researching our expansion to Italy).

Looks like I will have my work cut out for me as I am a freelance musician and I took decrease in earned wages this past year when I moved states.Are there other avenues of getting capital that would be better suited for my situation?