I am sure some people are are confortable taking a very old house rebuild, but the risk of unknowns could quickly eat up your profit.I recently finished a 1965 rebuild, and by the time I was done, spent way more than I originally anticipated (it was my first old flip) and if I had to do it again, I would have razed it, and built new. 

Feel happy to reach out with more questions or PM if you feel more confortable throging more questions the more Q's the better for your development.  

(and yes, it is my understanidng that you need to wait 12 months to refi at a new appraised value). also, if you think you will rent your primary out down the road, that would be nice to have a low interest on the house.as long as you are conservative in your expectations and confortable with your new payment, i think it would likely be a good move.

@Seth Clines You should start with the option that you feel the more confortable with.May not be the answer you expected, but unless you are confident and have plenty of basic knowledge on what you are doing, you may get burned bad.

I see of lot these REOs sit b/c folks are confortable.

I feel very confortable saying that ,as I am building 150 rental units for one company in around Charlotte.

He said if it will make me confortable (which it will) I can purchase title insurance from Tax Title Services (taxtitleservices.com) .

At 50k, Im confortable taking my time and not feel rushed to get rehab completed.

Once they get more confortable, more will come and so on.

Investing in a remote market involves certain disadvantage that I'm less confortable with.