I just purchased a foreclosed property but it’s occupied.

I would then get a inspection of the foundation and house but then I'm 1k in the hole without any promise of purchase beforehand.

I will soon have some funds (hoping between $100k-$150k) to be able to purchase my first rental property. 

@Andres Bernal hey Andrea how are you I’m also in the process of purchasing in Los corales/cortecito área , a 2br vacation property .

You can share as much of the information as you want with the seller, but I typically share the overview of my numbers, explain where the numbers are coming from and why its needs to be this purchase if I am going to do the deal.

In hindsight, I should have checked the code prior to purchase.

I purchased my first rental property - a newer home in a high-appreciation market and neighborhood - with a business partner, and she and I have had the hardest time getting it rented.

A 30k bill on turnover when you purchased is probably going to be typical every few years.

That's two loans to purchase one house and is a great way to over-leverage.I also disagree with selling.

We are creating an entity to allow our clients to purchase properties in various states - eg Florida and Ohio.