These options vary state by state.For fix and flip loans, lenders generally want the combination of the purchase price and the rehab budget to be over $100K while also factoring in a 10-20% down payment from the buyer. 

I’m often asked by new investor hopefuls how to get started in real estate when cash is light.

I expect the cash flow to be barely negative/breakeven initially, and then sustainably positive by year 3, and then slowing climbing positive from there.

Your enthusiasm and dedication to learning are evident, and it's great to see you're already making strides by house hacking and now turning that into a long-term rental.

Check out the Ann Arbor Real Estate Investors Club hosted by Brian Bundesen and the Dirty House Buyers meetup (holds their monthly meetings in Ypsi) hosted by Gerrit Stukkie. 

I'd build at least 3 units. the DSCR loans we underwrite get 1.6 debt coverage and because we build under 4 units they have so many exit strategies depending on which appraisal method goes for more. 

I would really appreciate any step by step instructions/guidance on this.  

They transact quietly.3) Similar to above, I know of a few people that have been asked directly by their lender if they have interest in taking over a nearby property for just the loan amount.

Do not hire them then you will argue about the cost or if you paint a driveway it’s not gonna hold etcsay thanks but it’s our policy to not have work done by a tenant .

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