As wholesalers, we’re trained to look for distress—motivated sellers in tough situations, properties needing major repairs, or financial struggles forcing a quick sale.

The inspection report did not mention many of the expensive repairs I'm facing.For one, one of the units cannot even be rented until I spend at least $10k getting the electric up to code, among other repairs, so its been sitting vacant.

That affects your loan amount and then principal & interest payment.2) Estimate rents based on recent rental comps3) Account for all operating expenses such as property taxes, insurance, repairs & maintenance (landscaping, snow removal, cleaning etc), property management (if applicable), vacancy, utilities (what does the tenant pay vs what you would pay?)

Does it need repairs or a full replacement?

This means for larger ticket items they will cover some maintenance or repairs on them. 

When I am looking for a new investment property and am strapped for cash, I typically look off-market and try and find something that can a seller is looking to sell that needs minimal repairs to be rent ready and the purchase price is 80% of the ARV this way I can use private money to buy in cash, do the repairs needed then refinance on a DSCR loan and pay off the private money loan. 

FHA loans are really only best in lower credit and lower down payment situation. if you have the ability to do 5-10% I would do it. if you don't need money for repairs , you could do on the higher end 10%+ but if you do need money for repairs 5% could be good. some lenders will do recasts on loans and you cannot do recasts with FHA.

We need to know if repairs will be made and what the rent will be for next year?

When I spoke with BFI on the phone earlier this year, it seemed like they were concerned with licensees engaging in unsupervised activities like private and commercial lending.

.✅ Keep an emergency fund for unexpected repairs and vacancies.2.