Need more information about local comps, the condition, and state of the market.

And don’t sleep on local banks or credit unions—they sometimes offer flexible portfolio loans that could work for a deal like this.Since your wife qualifies as a first-time homebuyer, check out any state-specific programs or HUD options for down payment assistance.

@Nick D.We are local to the area, I'm from Springfield MA.

@Jason Khoury I purchased my current residence, a duplex, from a local non-profit about 5 years ago.

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

Glad you have experience investing locally. 

Contractor – This is one I really need help from the bigger pockets community in the local area. 

A buddy of mine who invests out in Phoenix once had a client facing a similar timing mismatch on a rehab project.. they ended up working closely with a local credit union who was more open to interim valuations.

I honestly wouldn't trust anyone else with my clients but him when it comes to that local market.

My PM quotes me and does the work on my buys to get them rent-ready and then manages them and I'm local but they do the same for many out of state investors as do many Property managers in Milwaukee such as Citywide Rentals, Welcome Home Milwaukee or MKE Leasing.