Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

The first agent is absolutely certain the house will sell in the high 400’s.  

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

UPDATE:  Just chatted with the city and learned that variances have a high threshold for approval.  

Focus on long-term rentals in affordable markets with reliable cash flow, and steer clear of high-cost flips, lower-class properties, or overleveraging in areas that rely solely on appreciation.Good luck!

I highly agree that coaching or even just joining a group that can help you learn the ins and outs, is worth every dollar.

For example, maybe you will get to 10, 20, 30 houses and then find an owner who has a large portfolio and all of a sudden you are at a high door count and now need to hire, need to build your policy binder, and all the other stuff that comes with running a business.

With your strong credit score, high income, and solid investment portfolio, you are in a great position to secure financing for an investment property in the U.S., and as they've mentioned above DSCR is something you might want to look at.

It is a freehold property, recently renovated from top to toe with high quality, large garden, and kept very clean at all times.

You want to make sure you aren't muddying the water and making the tenant think they have longer to get out.