Happy to connect and answer any questions you may have.

Since you estimate a resale value of $200-215K and renovation costs of $60-70K (although you said that's on the higher end), your margin is tight, especially considering closing costs, realtor fees, and unexpected expenses.

25 inspection, 25 closing, 1 loan.

The last deal I did like this, I bought a $145K home with about $10,000 out of pocket for repairs & closing costs

Ya lets connect, would love to check it out.

Good luck and looking forward to connecting!

These are the few details I needed to connect in my brain to understand the strategy better.

Let’s connect!

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs). 

We are also close to pulling the trigger on acquiring another nearby single family home for a second STR.