Paying cash and getting a morgage with rehab costs

[Ray S.]

I'm looking to buy a foreclosure, rehab it, rent it out for a few years, then possibly sell it at some point. I'm paying cash for the property and the rehab. I want to get a mortgage for the property after the rehab is done and the units are rented. But I am wondering if I will only be able to get a mortgage against the original amount I paid for the property or if I can somehow factor in the renovation costs too?