I agree with Chris’s take and I’ll help you look at it from a tax angle.For hard money on deals under 100k, most new investors should expect to put 10 to 20 percent down plus closing costs.

I would expect 5-8k total not 23-28k....  1-2 points (whether called points, orig fees, etc) are normal, so I would expect $5k -$10k on this.

You can't just limp in to it and expect to do well.Too many gurus online, and even legit podcasters, promoting wholesaling as a way to get into real estate has ruined that sector of the industry. 

Find a solid agent, lender, and a trusted local property manager you can lean on for market insights, rental comps, screening practices, and what tenants in your area actually expect.

I expect to work with professional property management has I scale. 

Short answer: often, yes.If you’re earning income that isn’t having taxes withheld — rental profits, flips, STR income, or business income — the IRS expects you to pay taxes throughout the year, not all at once in April.Those payments are called quarterly estimated tax deposits.Why they matter:They help you avoid underpayment penaltiesThey spread out the tax burden instead of creating a surprise billThey force you to actually look at your numbers during the yearI’ve seen investors have a great year on paper… then get caught off guard because nothing was set aside.Quarterly payments aren’t about paying more tax.They’re about paying it on time.Curious — do you currently make quarterly payments, or is it something you only think about at tax time?

Things like rental demand, realistic rent projections, tenant profiles, and ongoing management expectations can make you an even more valuable resource to your clients.If you ever find yourself working with investors who have questions around leasing, screening, or long term property management strategy, I’m always happy to be a sounding board or help point you in the right direction, even though I’m in a different market.

Unclear terms, awkward follow-ups, vague expectations, or documentation that was never really buttoned up.I’m here mostly to learn from the community and contribute where I can, especially around:Private money lendingDocumenting loans without overcomplicating themProtecting relationships while still protecting capitalLessons learned when deals don’t go as plannedLooking forward to connecting, learning from you all, and sharing experiences.

I see a lot of deals stall not because the math is wrong, but because the financing side was never pressure-tested early.A few things that have helped avoid that in practice:Underwrite the deal the way a lender will, not the way you want it to work: If it only pencils at best-case leverage or ARV, that’s a warning sign.Be honest about timing: Lease-up, permits, seasoning, and appraisals almost always take longer than expected.

That just means expectations are high.