If it's the cheapest property for sale in the entire neighborhood it will sell for that price - and become a comp for future reference.I don't think the prices are nuts when you look at the bigger picture.

BTW, as long as the lease payments cover your existing PITI, many lenders will take a high percentage of the rent towards you income, and it might 'ding' your debt to income ratio a bit, but probably not prohibit your going for another property/loan.  

Another food for thought is that if you do your own work and something goes wrong, your insurance might not cover it.

Buy another property I have an eye on in my target neighborhood for 90k with 20k rehab. it cashflows well and I would use the sale proceeds to cover the property, then refinance after rehab and pull out money again for BRRR. property would build about 35-40k in more equity following rehab in addition to the good cashflow.option c: 1031 into multifamily or larger property find a 600k property, put 150k into property as 25% down, mortgage the rest.

I don't mind it because I have enough reserves to cover the mortgage until the deposit comes in.

HOA fees cover for those.

Bond(promise) for title(ownership) is an agreemnt for you to become owner in future if you meet your obligations(make payment, keep taxes paid, insurance covered, etc)You don't need permission from you lender/seller to dispose of property.

Is there a way to post pictures on here from my phone?

So a full breakdown of the work that was done:New Roof and GuttersNew upgraded 100amp ElectricalNew Garage doorsNew PlumbingNew AC systemNew Kitchen - cabinets, SS appliances, granite counter, backsplashOpened Entry way to kitchenAccent Wall in living roomNew BathroomNew Front PorchInterior Paint (Exterior not needed)Recessed LightingLandscaping - fixed yard, removed tree and overgrown bushes, fixed fencingThe Numbers:Purchase price = 70kRehab costs = 32kSale price = 165kClosing costs = 13kNet Profit = 50kAnd now everybody's favorite part, pictures!!

None of our licensing training covers how rental income works in the mortgage math, and you can go a successful 20 year career without ever learning it.Go to your local REIA, ask who is doing loans for those folks.