It's calculated as the ratio of your total loan amount (loan amount for purchase + loan amount for your rehab) to your total costs (purchase price + rehab budget). 95% is a good target.Avoid application and other upfront/junk fees. 

Where you pick will depend on your goals for cash flow and your budget to buy.

We refinanced and cashed out all our renovation budget plus $5,000 and actually kept monthly payment the same as rates had dropped.

lol)Purchase Price: 115k, Rehab 150k, Total all in: 265kExpected Rent: $4,000/month to $4,400I hired a real estate investing coach to help us build out the budgets for these 11 doors. 

After adding an extra bedroom and bathroom and rehabbing the house, I was well over budget.

They can help you navigate code compliance, especially with accessibility and egress requirements, and provide a clear budget before you begin.

Knowing what to budget for when buying a home may feel intimidating — but it doesn’t have to be.

Eliminate debt, establish a budget, and save.

Quote from @Jack Townsend: I heard David Greene mention a loan product that only requires a 10% down payment on the purchase price and 10% of the rehab budget.

Also offer incentives for our maintenance team to bring project in on budget and on time.