100k on the property, 200k on reno, and an ARV of about 400k conservatively. 

There may be some ongoing cash flow but I'd model in a whole bunch of conservative estimates: i.e. higher vacancy, rehabbing, much higher than normal capex/maint, etc. and then ask yourself if it's the type of investment that you'd want to sign up for (C- or D class I'm guessing... in terms of ongoing headaches).  

But again, you either need to commit to scouring the planet until you find something or partner with someone/company that's already doing this.As far as market timing goes, just be conservative when you underwrite your deals.

Been looking for almost a year now for something attractive, have been super conservative, and believe I've got a good one now.

Hi @Christina Luton, I'm a bit conservative, but I figure 10% vacancy, 7.5% each for Repairs and CapEx.

Run those numbers hard and be very conservative.

If you want quick access for when you find a deal and need to act quickly, it may be better to have it in a more conservative place (i.e.

@Tarik Turner it's listed slightly below $200k, and I believe that the appraisal will come in at $270k easily (my conservative estimate), and can reach as high as $280k-$300k.Yes, I could use that cash for a second down payment but I wanted to avoid the high fees associated with getting a rehab loan.  

Know your numbers well and make sure you are conservative in your underwriting.

However, if you are invested in debt in the same deal (especially conservatively underwritten debt) then you can foreclose on the property, and then resell it to recoup your losses… and often get back some or all of your principal.And all equity investments are not the same.