I've been in the real estate world (agent) for a few months now and I'm real anxious to start dabbling in the investment side.

With that knowledge, I was able to confidently invest in a SFH that only needed minor repairs to become rentable, to gain immediate cash flow, as I waited for the market to appreciate.The goal was to buy and sell within one year.Breakdown: Purchase date: 6/30/2017 Listed: $60,000 Under Contract (as the Buyer): $55,000 Acquisition Price: $46,250 Renovation Cost: $1,955 Total investment: $48,205 Ten months after the purchase, we are under contract on the selling side at $65,000.

Use around $20k for fixing like siding, roofing, driveway, etc.

The property has been unused for 2 years, still has furniture and will require some updating/cosmetic work to be rent ready but it seems like a great option to avoid the lender process on my side. 

I usually use 8% of rent, but that is probably on the conservative side. - Ongoing Repairs - These can be highly variable, but in my portfolio, long term, I was spending $150-200 per unit per month.With about 2 hours of work you can be sure the numbers are spot on. 

Similar to living in a duplex- living in one side but renting the other. 

The option to cash out the note would be on my side, rather than the sellers.

NW Arkansas is a very hot area and there are many great people there who will be more then willing to help you. 

Or take a side job.

Running the BP calculators, we decided to put a total of 15% of rents aside (5% for vacancy, 5% for general maintenance, and 5% for capex) and it still came out to a 15% COCR with 25% down on a 5.5% 30 year mortgage after we put about $10k worth of work into one side of the property.