That said...go ahead and add the cost of a nice wrought iron fence and sliding gates on the front end.

You'll need to work with a lender who is a servicer, not just an originator because once the purchase transaction closes, the reno budget gets transferred into an escrow account and you need your lender to be able to access it so you can quickly begin working on the reno or you will have problems with your contractor out the gate. 

Please make sure you can weather losing a couple deposits right out of the gate and still be okay. 

You need a motivated seller.then you need credibility.If bill gates wanted to buy your house in cash... would you ask him for a proof of funds?

@David Gates great advice brotha I appreciate that. 

Some successful examples I have seen were a senior living park (the one I saw was a gated community) and a higher end park near the beach in CA.

Paid: 150KMoney in deal counting closing: $66,500Mortgage owed: 120KEquity out the gate: 67,500Equity after repairs & refi: 130KARV: 250K+Now here is my question and where I wanted to get a little input from everyone. 

I’d recommend outside the back gate or up in NE Pensacola between NASP and Milton.

I can understand if its gated or exclusive.. but for that reason.. 

Except from the beachfront condo properties and one ocean front gated single family project, Loiza has a mostly a low income population.