Buying My First property

[Brandon Ribeiro]

So im looking at buying my first property (put in 1 offer and lost at full asking with no assist). I dont have a lot of capital so im trying to stay under the 200k range. 

I am planning on living in the house for about 1-2 years max, and house hacking it during that time- then move out and use that as a rental and get another property for myself.

my question is- being that i dont have too much money, or experience it is hard to tell how much the rehabbing will cost to know if i will get a return. I also am not sure how i would fund the rehab since most of my savings will be going to down payment and closing costs.

I did have a showing that is move in ready, not much can be done to this property to add value, but it is at the top of my budget (200k). my whole plan is to do the BRRR strategy, so i can use the equity to fund my next property in 1-2 years...how can i make that work when not much can be done to the property?