Worth approximately $110k.The monthly payment is maxing us out but working a 2nd job to save up $$ for the rental property, but that's going to take approximately 1-2 years before i can save up enough for down payment + rehab costs.  

For what it's worth, your PM is the one delivering notice, and he should have explained this to you if asked.

The home ARV is probably close to $250 and the tax assumption is there as well or higher (this was never appealed) I assume the home was worth something in the ballpark of $180 needing a kitchen/bathroom and lots of updating of plumbing and possibly some electrical too.

It would be well worth spending a few hundred bucks for a local attorney and CPA to answer these questions and help prepare your docs.

Good mentors are worth gold!

Because they bring me a deal and claim it's worth $150,000 when in reality it's only worth $120,000.

Generally, if your middle FICO score is at least 700 the conventional loans make more sense, and sellers prefer to work with conventional financing whenever possible so this would help you in a multiple offer situation.FHA and conventional financing do have options to roll in the rehab costs to your financing they have significant downsides to them, but it would be worth it for you to research these programs if you have not already done so. 

I think tonights BP Webinar is actually on Self Directed Accounts, might be worth a listen!

Being able to send a realtor a good referral is worth it's weight in gold.Best of luck on your new journey!

But, I believe it’s well worth it.