First we "test" if you have the necessary basic level knowledge to have a fighting chance at making, not loosing, $ on Wall Street.

From my experience, long-term security comes from boring basics: strong rent demand, good jobs nearby, and numbers that still work after repairs, vacancy, and management.

Relatively basic question but this is my first purchase with installed tenants.

If you're pulling equity at 7%+ to buy something that cash flows at 6-8%, you're basically breaking even or worse.

Quote from @Nick Cikity: What kind of rehab price per sf is everyone seeing for a very basic flip (paint, flooring, fixtures) for condos and or single family under 2000sf?

At a high level, many investors choose to separate properties into different LLCs rather than holding everything in one entity.The basic idea is risk containment.

Once you’ve got the basics down, start running real numbers in different markets to see what kind of cash flow and returns each area offers.

Some basics I like to learn are where are they from, where are they currently working/living (I'm interested in possible personal connections), what do they currently own, how much do they have ($$$) for a down payment + closing costs, are they pre-qualified, etc.

Tile floors, basic cabinets, standard fixtures.

Lenders move faster when the exit is obvious and supported by comps, not projections.Clean structureStraightforward ownership, clean title, no exotic entities, and a basic capital stack.