At the time of purchase, this home appraised at 800k.

If you genuinely think you have enough money to go ahead and buy a multifamily home, go do that.

This resulted in a substantial $2500 reduction in the sale price.In summary: The place I bought from Ohio Cashflow was an old, broken down home that required frequent repairs despite having "significant" improvements at the time of purchase.

While you can supply important information to the appraiser, such as recent improvements or distinguishing features, they must ultimately provide an impartial market valuation.

I like home with mold, we can buy it for cheaper and make renovation is actually easier.Truth is you have to cut the drywall, also check the windows and so on.

Looking to purchase my first home and was initially going to go the traditional fixed rate mortgage without buying down points with the assumption rates will go down in the next year or 2 and I will just refinance.

After listening to 100 podcasts I felt I had the confidence and game plan necessary to start accumulating multi-family homes.

I did a quick search in your general area and found this listing in Lambertville (not right next door for you):https://www.redfin.com/NJ/Lambertville/92-Swan-St-08530/home...Take note that they bought it for $197,000 in January and now have it listed for $499,000 - which might be kind of high, but gives you an idea of what a flip looks like in your area.

Despite being aware of the initial no-repair status, I opted for a home inspection, which yielded pleasantly surprising results with minimal concerns, primarily cosmetic.

I am trying to start doing short term vacation homes/rental properties.