Wonder who can give some advice about which neighborhood close to downtown Pittsburgh is the best to invest in.We wants to buy our first rental property (eyeing for residential/ multifamily).

Prices soften a little....but no where close enough to offset increased borrowing costs.There are basically two logical flaws that lead people to the conclusion that rising rates equates to equally low prices.1) They assume that other investors have the same borrowing costs that they do.

Using an attorney to prep docs and close is always smart.

After all is accepted by the Housing Authority with the booklet, they will schedule an inspection where they come out and check a list of items including looking for peeling paint, windows open/close/lock, smoke detectors /co detectors / fire extinguishers all in the right locations, GFI receptacles in the correct locations, grounded receptacles if 3 prong (ground not needed if 2 prong), and the list goes on. 

DSCR is also popular among investors because you are able to close in an LLC and you don't hit a max amount of loans like you do with conventional financing. 

I really go the extra mile to help out of state investors to understand our large metro market, and then close on a property successfully no matter where they are. 

Thank you Rahul,Delayed financing requires two closings, but it gives you the bargaining leverage of cash purchases while recovering a bulk of your initial capital and providing funding for the rehab. 

You might be able to offer them close to asking price if they will contract with you for a no or low money down situation.

You could close out your HELOC and try to get a new one but I am sure your rate will be much higher.

One of the reasons I have been successful in rehabs is because I have my projects lined up before I even make the purchase and then the work typically starts the day I close on the property.