This whole article could be titled “do as I say, not as I do…” So that’s why it’s an interesting case to learn from! I don’t suggest this method unless you’re highly experienced, and even then, be ready for “the ugly” to strike.
So let’s get right to it:
Chapter 1: The Purchase
I bought this single family house through word of mouth in 2019, and it was a good deal. Great neighborhood, good bones, just needed a bit of love. I needed somewhere to go with some 1031 money, and this seemed like a cool adventure. So I bought it, with only seeing it via Zoom. The plan was to spruce it up and rent it out.
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