Quote from @Blake Bailey: Hey guys, I am hoping to be a first time investor here within the next couple weeks I have found a property in my hometown That is a Home that was built in 1936 and it used to be a duplex but now it is a single-family home but I believe if I purchased it, I would reconvert it into a duplex but anyways it is a 2100 square-foot property That has three bedrooms and two bathrooms right by the college in my town The seller says the only issue is that the wiring needs to be brought up to code and she is only asking 125,000 which to me and everyone I know seems to be an insane deal It also has new HVAC and a new roof just needing to see the inside but just wondered what I should do first in this situation to figure out if it is worth it or not just really panicking.

Acquired for just $80,000, with $32,500 in targeted renovations, this property has been fully repositioned and now boasts a market value of $245,000.Not only did this deal generate significant equity on the back end, it also delivers strong monthly performance—with $1,850 in gross monthly income.What made you interested in investing in this type of deal?

Construction matrial and labor costs continue to rise as does insurance, permiting requirements and code amendments continue to add time and costs to permitting and construction,   tenants continue to become more educated (translates to understands how to manipulate and take advantage of landlord/tenant laws and these tenants are most often the tenants in C/D rentals), tenant advocacy groups have never been more abundant.

We are continuing to move forward toward the early end of lease in summer. 

Sounds like this is a house hack. 

I am looking forward to meeting people on this site as they share a similar passion for real estate and wealth building. 

Good lenders know this. 

There are two main ways to utilize this exemption.

I’ll be the means and hopefully I’ll find that in this forum.

I mis-read one of the boxes which of course causes all my numbers to be off.