This will allow you to use the funds from your sale to purchase a more expensive property while avoiding paying capital gains tax on your sale profits.Best of luck to you and CONGRATULATIONS on the addition to your family!

Thanks all for helping out as much as you did.Interestingly enough, I bumped into the owners and we had a somewhat awkward chat, looks like they're going to put the house not the market in the Spring--citing they wanted to do some additional repairs before testing the market.

In addition to other suggestions above, consider sign at property, posters on bulletin boards where your target tenants hang out.Before you market, figure out your application, policies and screening procedures.

Afaik, Lenders will not just take your current income (including child support) and extrapolate it as being locked in, and add it to the $1000/m cash flow you'd also be getting with your soon-to-be rental.

If the current owner funds the reno, we can add whatever additional money he put into the property (during our lease period) to our purchase price at the end of the lease period. 2.

They even sent me a letter along with the estimate saying they'd give me an additional $2,500 off.

I was billed for the work done and an additional $450 for pulling the permit.

Additionally, in many jurisdictions there are regulatory/legislative restrictions on when you can disturb the tenants.I always figured, if I'm looking to drop $500K to +$1M on a small to mid-sized apartment building, I can make myself available for an hour or two during the week.... and as @Jeff Kehl indicated, if you've done all your homework and deem a property worth a walkthrough, you've probably already submitted a LoI to the Vendor.

My goal is to use my HELOC to appear as a cash buyer offering quick closing in hopes of additional flexibility on price from the seller.

Get Heloc for additional cash reserves / down payments 2.