The 60% LTV is based on the ARV, and that is why practicing calculating the ARV is an important skill that can be learned over time and with a lot of practice. 

It is what it is - if anything you lose a little and learn some lessons going forward to apply to your real estate investing career. 

Partner with a real estate marketing company out of Las Vegas or Provo, Utah to market, promote and advertise the “mentorship” system consisting of the free seminar, followed by the modest fee weekend workshop, followed by the $15,000 - $40 000 full mentorship program.Here are the usual results1- 99% of “students” never earn back the cost, despite 1000s of wasted hours2- students learn nothing of real estate principles, real estate finance and real estate law which are the necessary foundation blocks of knowledge necessary for a SUSTAINABLE career in real estate investment 3- with hundreds or thousands of “students” unleashed on the real estate selling public they’re AT BEST an annoyance of trying to do “unrealistic” deals, AT WORST lead to a disastrous result for vulnerable homeowners.4 - The career real estate investors, service providers, brokers, lenders, etc are so disgusted with all of it and the outcomes they see that that can’t even comprehend that the subject technique or strategy does have a legitimate use when utilized (1) by and experienced and well capitalized buyer and (2) full disclosure is provided all parties with legal representation.  

I would just make sure you're saving for reserves and expect that first year to be really about learning the house.

I’m here to connect, learn from others, and share what I can.

@Ike Okwerekwu Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I am here to learn more about my own personal investments as well as seeking out learning opportunities from like-minded individuals.

Looking forward to learning and sharing some insights with you as we grow together!

First pro is you learn how to be a landlord and to manage properties and this is the best way to get started into real estate investing.

When you get an agreement with a contractor follow it, don't go against the contract...trust me the above are expensive lessons learned..you're benefitting from my pain.Hope this helps.