As a new fix and flip investor lenders will typically want to see 20% down payment and will be able to fund 20% of the rehab budget (80% LTC). 

We are also wondering whether it would be better to try and find something located closer to Nashville within 5-15 minutes that may not be as nice of a home or property for our budget or find something that is around 20-30 minutes from Nashville in the White House Tn area, but a nicer home within our budget.

Eliminate debt, establish a budget, and save.

I can get 5 times as many deals without increasing my budget.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

Ensure you increase the budget.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.

From day one I treated my involvement in real estate as a real business.This means, I had an advertising budget, a lead generating and follow up process, a back end process and money source and above all an experienced mentor.  

I have a truck full of questions, but these 3 specifically keep my brain awake at night right now.

The current way the studs are built is not up to code, so they have to rebuild the entire structure of the kitchen wall This is not uncommon especially when renovating an older home and when budgeting you should also carry a very heavy contingency for unknowns.