How best to formulate the deal that will give us sufficient time to find the new property in the current environment.

I’m also educated in costs of repairs so that’s basically how I originally formulated my numbers 20 some years ago.

As far as the rental they will ask for a recent mortgage statement to verify the balance and also do a desk or physical site appraisal if needed to formulate the Heloc amount which is calculated by Current Value x .8 - Balance = Heloc amount.

Speaking of debt, I feel like I'd run into the issue of banks/credit unions not wanting to lend to me any longer due to a high DTI.With all this being said, I am trying to formulate my plan for the next deal in a year and would like some advice.

That will give me time to speak with the County Planners and see what would be required as far as a Use Permit, State Licensing, etc. and formulate a plan should I decide to move forward. 

I guess Id say learn all you can so when you see opportunity, you'll recognize it and be able to formulate a plan accordingly.

Lastly, When I do perform my pre-inspection how do I formulate cost of materials, labor, over head, etc? 

So before you do anything you need to review the codes for what is allowed in the zone and then formulate a strategy that fits.

I’m on the flip side of the conversation because I am the boots on the ground guy for my team where I formulates a strategy and plan, put deals and together with everything in place, and then execute on that plan along with putting together the process and management in place that the property requires.

Currently, I’m stuck overseas and probably won’t get back til June, but that gives me plenty of time to formulate a plan and network via electronic means.