There are more than a dozen other properties in this neighborhood that are closer to what my home would be worth, in rooms and square footage, that have sold above the 230,000 and some that were renovated that sold in the 270,000's.My property details are:2260 Dupont Dr., Pensacola, FL 325035 bedrooms 2.5 bathrooms with 2420 Sqft.Here are some properties within 1 mile that sold in the higher price range:3545 Dunfries Rd, Pensacola, FL 325034 beds 3 baths 2,420 sqft Sold for 278k2310 Inverness Dr, Pensacola, FL 325033 beds 2 baths 2,124 sqft Sold for 270k2122 Windermere Cir, Pensacola, FL 325034 beds 3 baths 2,259 sqft Sold for 275kI already have the property under contract and this property can easily make between $50k-$80k in profit.

Hello Everyone,I am getting closer to making my first purchase on a Buy and Hold property in the Okaloosa County area of Florida.

I'm guessing closer to 10% actually use their own cash.

When you get closer to building a family, things get a lot more complicated, but if you start now, you'll probably have cash flow and good leverage (not to mention experience) in your pocket.good luck!

"Kinda guessed at" can make a really big difference.If you're getting a typical mortgage of any type, your interest rate is going to be closer to 4%, not 2.Also, I realize you said you plan to do the work yourself, but very very few older "needs some updating" properties need only $7k in work.

There is about 30% equity based on the original purchase price not current market value which would put it closer to 40%. 

We're getting closer to that end-goal, but it'll take a lot more work.  

Closer to home, you need look no further than the Bay area, which is in a housing bubble largely fueled by a startup bubble.

We have the mindset that we don't need the property, which is huge leverage for us, and would really feel good about this if we can knock down that $275,000 asking price to something closer to $220,000. 

Otherwise you will have to buy multiple properties and with the benefit of leverage you may get closer to your goal.