They will also often carry very expensive interest rates and have other fees tacked on.

@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.

Lenders dont allow seller carry back and NO cash equity.. 

If the LLC you own shows a loss (beyond depreciation), and you are an owner of that LLC, this would carry into your personal tax returns on Schedule E, page 2 from your K1.

If I am all in on the property for 360k (purchase and some finishing construction as well as carry costs) and the home is valued at 450k or more (based on what im told by agents as well as my own analysis while staying conservative), that is 20%+ equity I believe, unless I am missing something.

The Sheriff might require a deposit or fee, but will ultimately carry out the Order for Eviction and physically remove the Tenant.Andrew Holmeswww.chicagocashflow.com

Some banks can spread your funds around to multiple banks if you carry a balance over $250k and want to have all the necessary FDIC insurance…merry Christmas!

Quote from @Carrie Young: Has anyone had an update?

People carry too much debt and even if the debt was forgiven or paid off, incomes don't match affordability. 

Speculative investors might face higher carrying costs for undeveloped land or projects.