I had a similar situation a couple of years back with a contractor.

I am looking to buy a single family home for a buy and hold rental property 50/50 with another couple.

Anyone attending the government tax lien in Mayfield Ohio today?

The property is in Texas and I've never purchased a pre-foreclosure that is only a couple weeks away from being auctioned off.

I own a couple of fourplexes in Texas, and the appraiser used comparables from other fourplexes in the neighborhood to give me the values.

I do want to have rental properties in the future, so I thought maybe buying a home to live in for a couple years and then renting it when we leave would be a nice way to start that process, but just not sure if it's wise to do it now. 

@Mohamed Nagoor We used builders risk policy but it's been a couple of years since our last flip.

If you only have a couple thousand in the bank, you're pretty limited in what you can do, unless you find the alternative financing options that so many on these forums discuss. 

I have a couple I'm selling in Kokomo but they are in need of rehabbing.

As for creating an LLC, I don’t think we will do that quite yet because We want to get a couple more house hack multi families as owner occupied for the better rate.