I purchased the property roughly 5 years ago.

It is in my book (available in January) and the score sheet is part of my forms package available for purchase.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Many real estate investors opt for a fix-and-flip loan because they’re relatively easy to obtain: no personal income verification (no DTI requirements), and you can often borrow up to 90% of the purchase price and 100% of the rehab costs.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

We're in the process of getting our systems and team in place and really starting from scratch.

Assuming a 340k purchase price that would be 34,750 out of pocket.   

Thanks again for your input, and I'll probably reach out as I get further along in the process.

This can be a very long and annoying process and you're not guaranteed to get approved.