It requires a solid FICO, that you get pre-approved with all current financials held in file beforehand, with the complete contract package submitted upon execution which starts the clock; insurance must be arranged within three days for lender underwriting. 

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

At the completion of your due diligence, you have 3 choices; accept the property as-is and move to step 4, reject the property and walk away, or ask the Seller to correct any items that you request. 

The IRA has to be treated as completely separate from you.But lets say you have $200k in a IRA.

So, it sounds like noone has actually gotten a loan from them.

I wouldn't tackle it yourself, The IRS instructions for it estimate 22 hours to learn and complete the form. 

Purchase price: $70,000 Cash invested: $48,500 Sale price: $192,000 Completed our first flip in Canton Ohio.

Wish we would have fully completed each project before moving onto the next.

We have many quick rehab deals reappraised and refinanced after the work is complete without much seasoning, usually around 90 days.

The inventory is also very old, so prepare for heavy Capex (but it sounds like youre ready for that anyway).