Some type of renovation will likely be required to generate any cash flow in that area, but to be honest; it might still be slim unless it's a heavy renovation.That area is like anything along the NW blue line corridor...great for house hacking, but really tough to make the numbers work on a straight investment deal.You might be better off trying to find something off-market if you are locked into finding a deal in that area.

Doesn’t make much sense to me or any of the contractors I work with but it’s coming straight from the horses mouth.

(Both that you know about now and that you are told about form your buyer’s inspections.)Most buyers are going to discount their offer by double what they think it will cost to repair what they can see plus the “mystery repairs” you’re hiding with your as-is sale so you will make much less on the sale. 

Reasonable rates and options for a discount if rented more than (x) days.Make the home extra attractive buy some things that make the home stand out like games for both the parents and the kids.

The other frustrating piece to that pie is that folks assume because properties are going for cheap in an area that contractor rehab work is going to be 'discounted' as well, and it is NOT discounted, it's the same going rate, if not MORE in less expensive neighborhoods because it is MORE COMPETITIVE in those areas for licensed contractors.

Account ClosedLet's please get the facts straight. 1.

Option 2: I found a house that the asking price is 930k , but I’m sure I can get a discount on it because it needs a lot of work , it doesn’t qualify for traditional financing , so I would need to take a hard money loan , it needs about 150k worth of work , the plan would be to offer the full 930k asking price but ask for a 6% seller concession , I calculated 20% down payment and 7% closing cost , so total after seller concessions comes out to 21% down payment which is $195,300 .

To date I have been self-managing my property and it has been pretty straight forward since I was living there.

The seller was motivated to close quickly, and we negotiated a favorable price of $80,000, allowing us to secure the property at a discount and capitalize on its renovation potential.

It should just be the lender application which is vary straight forward from lender to lender unless your doing a construction loan.