Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.

I would stay away from Facebook Marketplace, it was a crap show the couple times I threw a house up there, but that's just me. 

To evaluate the ARV, I’ve used a combination of online resources and comps pulled by a real estate agent with access to the MLS.

Your best bet would be to take a look at a combination of cash outs / or maybe just one in order to obtain your proceeds for the new purchase.

Combined with the price I paid through the auction, they are much higher than market valueproperty 1: paid 100k, owe 170k.

I'd get a small HELOC in combination with cash and/or partner with someone else to get a deal done.

On a new build $275k is the sweet spot but if you go up to like $320 it better have a steep roof 9ft ceilings and curb appeal front or it will sit up to 90 days before selling.Its basically what most people can afford around here.I would take more of a data approach to this instead of guessing. in our market all new builds combined that sell on the open market is about $550k. we build between 350k and 500k. we also stay in line with where national tract builders build in our market which s 400-600k but we like under 500k in Columbus Ohio. in miami it's similar in suburban markets  

We should meet up and see how we can combined forces :)

Hello BiggerPockets community,My wife and I have a combined W-2 income of approximately $550K, supplemented by $100K in stock grants annually.

All crap shoots in terms of landlord abuse.