Since the property is there, I can only do investor loans in AL, but from a consumer standpoint you can do Conventional, FHA, VA, and USDA as a renovation loan where you take the cost of the property plus the cost of the renovations as your purchase price up to the value of an "As-Repaired" appraisal.

Debt to income ratio is great because it determines what a healthy overall monthly payment should be.If you make $4,000 per month ($48,000 per year) and you are buying a 4-family with potential rents of $1,000 from each unit, you have $3,000 in income and you will be occupying one unit.You then multiple $3,000 * 75% = $2,250.Add $2,250 to your income of $4,000 = $6,250.Multiply $6,250 * .55 (max DTI for FHA) = $3,437.50That is your total debt payments you can have on a monthly basis.

The good news is, even if you go over, it appears there's a healthy profit margin that can be reduced and still not be underwater.

to me have enough cash to do these things without having to tap into equity.. snow ball your mortgages after keeping healthy reserves its not like making a few hundred bucks a month is going to change your living standards so dont take a dime out of the properties focus on one and pay it off..

State consumer affairs and the contractors license board would close us down if we did monkey business like that.Junk fees are bait n switch 

This gap in the market has become increasingly pronounced, posing challenges for both developers and consumers alike.During the Great Recession, the housing market saw a shift towards multifamily rental properties as homeownership became less attainable for many.

If I needed this property to turn a healthy profit I'd be dying right now!

I would recommend reading the book by J.Scott called "The book on estimating rehab cost" Also, network a lot and consume wholesaling-related content to give you a better picture of how it works. 

I finally made the decision to embrace the healthy fear of starting my investment journey, currently have my first deal under contract, and decided to make my first BP post as well to introduce myself!

There's a reason Fortune 500 companies never stop marketing to consumers!