The key is finding the right area/market and having a solid rehab plan that doesn't go too far over budget.

I download those into Geo Batchcode so I can plan an efficient route to check out those properties, and of course I take note of any others of interest that I see along the way.  

If you’re not occupying the property and plan to either sell it or keep it as a rental, you might want to consider a bridge loan through a hard money lender.

@Jordan Kaylor   Would your plan be to buy properties that needed work to force appreciation? 

The precise property forecast can vary depending on a lot of factors but the general demand is really what you should use the tool for to make your plans. 

My plan right now is reading up and down this forum and learning as much as I can.

Quote from @William Taylor: Quote from @Travis Biziorek: Your numbers look OK-ish to me.Some things that jump out... how are you planning to buy this with so little down? 

It depends on the rental income, what you plan on putting down (20-25% is typical, 15% or 25% is required for conventional depending on # of units) For your owner occupied deal, you should be able to use a portion of the rental income to qualify and help offset your DTI a bit. 

I would plan on paying for the project out of pocket.

Hey @Chris GarnesI just came across your post, and it immediately reminded me of a project I handled with a colleague in San Diego, Dennis Bragg - https://www.biggerpockets.com/business/page/3607  - You’re sitting on some serious potential with these two properties, and your plan to step back from construction while finishing them makes total sense.For Home 1, with no mortgage and a prime design upgrade underway, you’ve got flexibility that most investors would envy.