So I am not new to real estate, have purchased 9 properties oos, but I am looking to transition to BRRRR strategy.

I would love some advice on trying to navigate this if anyone has purchased a property like this before and wanted to know what are the major things I need to be concerned about.

Even agents do this when they should not be on behalf of their clients.

Because of what my goal is with this purchase , I am open to most ideas if it works.

Purchase price: $153,000 Cash invested: $40,000 Recently updated duplex with tenants in place.

@Steven Catudal congrats on making your first purchase!

I was telling one of my investor clients today if I see a preapproval letter from either of them, I always think there is a better chance of getting the deal to closing. 

BP Family - I am currently under contract to purchase a long term rental home and will be closing on July 12th.

Borrowers usually only put down a fraction of the purchase price, the lender is stuck with the property if either of the above criteria fail.

Common, I know, but the question that I can’t find an answer to is whether I can purchase a $100,000, 0.5 Acre lot and build a $344,000 ($86,000 per unit) on the lot as my first homebuyer’s FHA loan.