Buy a small mf 2-4 units that needs a little work, have tenants pay most of not all your mortgage, then after time pull back out your initial investment or more.

OK, so I know people talk about this all the time and everyone has their own opinions, but two separate individuals that I highly respect in the real estate field told me that mortgage rates are going up by the end of next week.

I assume you don't allow your mortgage broker to leave a camera in your house?

You want to make sure that when you buy the property, the rent you will receive will cover all your costs (mortgage, T&I, maintenance, capex, vacancy, etc..).

So here’s my situation..I am about to graduate college and will be working in my field full time in order to be approved for a mortgage and financing to pay for renovations for my first flip.

You might even team up with a mortgage broker to share the expense.

It also wouldn't hurt to get pre-approved for a mortgage to see what rates and amounts you can qualify for. 

The prior owner's mortgage company "secured the property", even though we closed a week ago.

The mortgage amount is $159.500.

Rent- 2500Current mortgage balance 275k @ 4.25Current monthly cost PITI - 1425