After buying the condo for 365,000 I added about 21,000 in improvements - carpet, paint, new kitchen, new air conditioner/furnace etc.

They have no experience, they are picking rehab cost out of thin air, and going out to 2-3 miles to support the ARV.

I started investing while I was AD Air Force and have only been out for about 11 months, so I understand some of the challenges (and perks) of investing while you are in the service.

Current Air Force SSgt. looking to not only learn from everyone here, but to take that knowledge and utilize it to the fullest.

Old galvanized pipe is almost certainly corroded inside and if its been exposed to air, the water coming out is going to be rusty every time your turn on a faucet.

What difference does it make to you if your tenants smoke outside in the open air?

HEED NED'S ADVICE, have multiple exit strategies, including cozying up to hard money lenders should the loan be called, or you need to force appreciation, or a tenant destroys your property and you need grocery money to complete the capital repairs. . .Being undercapitalized. . .sucks!

I also have an Aerospace Engineering background but haven't finished my degree yet due to my service in the Air Force.

Being a current military member the air force offers up to 9000 for a one time certification.

By doing so, you can advertise it as having NEW, ENERGY EFFICIENT, appliances, water heater, heating and air conditioning.