Hi everyone, I recently purchased my first house in Baltimore, MD.

Hello All,I just secured a 0.4-acre lot with a burnt house on it in the Bakersfield, CA area.

Now, this doesn’t mean these are areas you should shy away from, it just means you must be willing to follow those rules that are set and make sure your proforma numbers reflect your desired ROI.

What I mean by that is for instance in a place like Newport Beach California where houses cost millions to buy there may be apartments available for 2000 a month, which is way less than the per square foot of a purchase.

Maybe they forgot or set autopay to the rent amount.

The bank notes with friends and family range from 8-10% annual payout.The community has 5 tenants, 4 TOH (tenant owned homes) paying $325 per month, and a house $500 per month.

Please come back and post a follow up, even fi you wind up losing money on the transaction, because it is a good opportunity for new people to learn how difficult flipping a house and turning a profit can be.

Sometimes buyers don't realize all the houses a buyer agent had to preview (in previous deals, and just agent walkthroughs) to get the neighborhood vibe and trend...numbers and data don't tell the whole truth.I hope that after a year or two of the new rules enough buyers (who got burned) will see that having someone experienced represent and protect their interests is a darned great idea. 

Sedona is saturated, but i dont see that many houses for sale, maybe the returns are still good? 

With that in mind, here would be my priority order based on what you have written:1) Have all the houses inspected so you know about major deferred maintenance. 2) Pay for an appraisal on all homes so you know if you are getting a good deal.