After working on many transactions, I realized my next step is to start building my own investment portfolio.Right now, my main goal is simple:Buy my first investment property — starting with either a fix & flip or a BRRRR deal.I joined Brandon Turner’s First Deal Program and I’m here on BiggerPockets to learn, grow, and connect with people who are already doing what I want to do.

Modern lending relies heavily on the Flat 35 program — a fixed-rate mortgage with a maximum 35-year amortization, not 50 or 100 years (source: Expatica, “Mortgages in Japan,” 2025).

Having a clear exit upfront makes it easier to analyze the deal correctly, choose the right loan program, and avoid surprises later.A lot of my investor clients go into a deal already knowing whether their goal is to:– flip the property– BRRRR and refinance– move into a DSCR loan– or hold long-term for cash flowThat clarity allows them to approach the deal with confidence.Other investors prefer to wait and see how the property performs or how the market shifts before choosing their exit.

The ones that I anticipate being around for a long time, I have tightened the underwriting standards while the ones that are chasing volume continue to come up with “creative“ programs that typically will not end well for them.

If the negative cash flow is manageable and doesn’t block future investing, holding for flexibility may be the least bad option — but I wouldn’t force a large cash paydown just to feel better about the numbers.Have you considered operating your home for transitional housing to homeless veterans (VA-VASH program), senior care, etc.?

This criteria is for 1-4 and 5-8 unit programs.

Quote from @Kevin Mohr: I spoke with them about their VIP program out of curiosity. 

- Many lenders have foreign national programs, we do a lot of foreign national loans especially in the Miami market. 

Bonita Springs Unit — Strong Cash Flow, Higher Long-Term Risk Pros: • Attractive entry price at $223K • Strong tenant demand confirmed through your FF test • Seasonal rent potential around $4,000/mo • HOA fee of $460/mo is reasonable for the area • Not in a flood zone • Solid reserves ($480K for 78 units) • Strong cash flow potential Concerns: • Low occupancy rate at 41%, which may affect resale value and certain loan program eligibility • No designated parking, which can impact long-term tenant satisfaction • SIRS and milestone inspection requirements — these can lead to future assessments under Florida’s newer condo regulations • HOA leadership uncertainty — estimated increases are rarely accurate This property offers compelling cash flow today, but carries more long-term structural and financial risk.

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.