It doesn't appear to need much work, if any and is move in ready.

This is another place where a building inspector could help warn you about any major repairs that may be coming due in the near future (new roof, new heating/AC, etc)Property Filter strategyProperty must be in price ranges of 25000 to 675,000 with the maximum including repairs.Must be maximum 25 years oldMust NOT have nearby UN-clean properties Ex/ non maintained lawn, crumbling roof/structure, torn gates, abandoned cars and possible current crime related houses Must not have major issues or structure issues,examples include an unstable foundation, and big holes in the roof or walls.Seller must be willing to pay 50 percent closing costsMust not have taxes that go over 8250 annually Must have at least 25% in equityMust have the potential rent value of at least 500Must not have more than 2 mortgages on the propertyDocumentation to ask the seller for:Leases/rents for the past year, Tenant applications and screening procedures, tax returns for the past 2 years, also income and expenses for the past year, current rent roll (including unoccupied units, unpaid rents, and concession losses), List of improvements on property in the last 10 years.Documentation of all loans against propertyAvoid all illegal conversions or constructions.Avoid houses with no electrical wiring or AC or plumbing or if these criteria are severely damaged.Property must have cash flow of at least a total of 100 dollars.Plan for Financing At 18 years of age I will start investing in Multi homes with a loan called 203b mortgage (an FHA loan).This will allow me to only put up 3.5 % as a down payment and have a very low interest rate of around 3.5-3.9%.This loan requires me to live in the property for 1 year + though and have mortgage insurance, and so I will live in one unit while my other 1 or 2 units are rented out while I attend college.My down payment and closing costs will be from saved money from jobs in fast food and other work areas from beforehand.I will use 30 year fixed rates.Steps to take in the whole process:Have my attorney write up my contracts beforehand which include ways to exit before closing, financing terms, closing costs being 50/50 split , make sure the sellers future property info is accurate and reliable or else he is accountable and everything else he/she recommends Have my loan prequalified beforehandMake a lowball offerNegotiate until an offer is accepted or you have hit the buying price limit, or the 70% ruleOnce an offer is accepted inspect the house thoroughly by an appraiser and an inspector and take lots of pictures and videosrequest these forms:Leases/rents for the past year, Tenant applications and screening procedures, tax returns for the past 2 years, also income and expenses for the past year, current rent roll (including unoccupied units, unpaid rents, and concession losses), List of improvements on property in the last 10 years.Documentation of all loans against propertyIf the deal is still sweet, go ahead and continue with closing and finalize the deal Hire a property manager with at least 3 recommendations and question him about      these areas of work, also ask for a complete list of all past clients contact numbers.

The earlier you start investing for the future, the better off you will be in the long-term; however, real estate can be risky, so you need to make sure that you don't put anything on the line that you're absolutely unwilling to lose or that you think you are going to need to get your feet on the ground after graduating.

Quickline Capital - I am a first time investor and found Quickline to be very nice and quick to get things together until the last minute when the points went through the roof.  

I did a drive by and it does show signs of neglect(older AC, needs new windows, addition on rear has roll roofing in bad shape).

Hi All - I have a 1 bedroom house and the roof/ceiling is leaking into the bedroom (over the bed). 

Due to the age of the property I'm planning to redo the pluming and roof in the next two years.

There is little downside, fewer renters to deal with, fewer HVACs, Roofs, Pipes, etc.I wouldn't go much over 100K each though.

Put those numbers up here and I'll tell you what I would pay for the place.TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and Ops (my personal minimum is $150/roof/month)InsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)

If it's private money or a HML lender then the rules might be different.Now if a family member or whoever gives you 10K and it's been sitting in YOUR account for 60 plus days then you're golden.Remember that you're also going to need to show 6 months of reserves for the each investment home and 2 months for your primary.I hope this helps and have a great day :)