The plan was to rehab the house to a 5-bedroom, 2-bath home with a main floor master suite (the existing layout did not have a master suite).What was supposed to be a 3-month rehab stretched into a 6 1/2-month rehab.

Without seeing your house, and knowing your neighborhood, if you have two living/family rooms and can convert one into a bedroom in a way that makes sense for the layout of the house, that is almost always a win financially.

Facts: 3/2 layout, fiberglass pool, 1446sqft.

New kitchen layout includes all new cabinets, appliances, quartz counter top and a custom sink.

New kitchen layout includes all new cabinets, appliances, quartz counter top and custom sink.

It is a mix of 4 and 3 bedroom layouts.

. * My wife is an interior decorator with kitchen and bathroom cad design experience, she is also a home stager and can help with plans and lay outs.* We have wholesale accounts with several large cabinet companies, and granite companies and can get huge discount on these supplies, along with flooring, roofing shingles, and carpeting and other supplies.* My personal credit score is 700 and I have personal rehab capitol, but not enough to cover the home purchase and rehab costs. 

Still, at that rate, I'd lay out some of your calculations to the seller and say you're really looking to get closer to the 1% rule.

They will give you an idea of preferable neighborhoods, preferable house layouts for renters etc...Since you are going to be a oos investor, just curious why restrict yourself to these 2 cities?

The other houses in the neighborhood with the exact same layout are also 2250 sq. ft.