Partnering with family and securing owner financing to acquire the property below asking price was a smart move, and the renovations sound like they added significant value.As a direct lender, I’d love to explore how we might assist with your future growth, especially as you look to scale into larger multi-family investments.

I have been looking into getting properties through sheriff sale auctions.

3X is a GREAT entry for most as long as it's not a sinking ship or with crushing overhead and miniscule margins. 4X-7X is a normalized range for acquiring many different business's. 

Right...1st I would say the tax sale wiped out any liens. 

Been doing short sales for almost 20 years.

The drive thru component really drives sales for these places.  

My fiancé and I are currently looking to invest in Fl, and have been looking into tax deed sales. 

@David Avetisyan If you sell your home for $510K and provide a $10K seller credit, your taxable gain is based on the net sale price of $500K ($510K - $10K credit), as seller credits reduce the gross selling price for tax purposes.Tax Impact in CaliforniaCapital Gains Calculation: Your gain is the net sale price minus your adjusted cost basis (purchase price + closing costs + capital improvements).Primary Residence Exclusion: If you’ve lived in and owned the home for at least 2 of the last 5 years, you may exclude up to $250K (single) or $500K (married) under IRC Section 121.California Tax: Capital gains are taxed as ordinary income at rates up to 13.3%.The $10K seller credit lowers your taxable gain.

Purchase price: $360,000 Sale price: $570,000 Sold my first house hack because my return on equity was too low for my risk tolerance.

Hello.My name is James, I live in Bixby, Ok and would like to get started with my first BRRRR in the Tulsa area with a cash purchase. Also would like to know of any local credit unions with portfolio lending options. ...