If it does not cash flow as a stand a loan rental don't buy. 

I mean, don't get me wrong, we have to comp the property...so if you are looking to REHAB the property and make it something different, then you need a rehab loan first and then refinance after type of thing. 

Just remember that $70 is the gross number they charge , they have to buy supplies , insurance , tools , vehicle , gas , workmans comp etc . 

Some investors use conventional loans, while others use private lenders, hard money loans, or partnerships.

Ask your lender about a bridge loan....

I just did this with a 4/3 new build out in Cape Coral and a construction to perm loan through the bank.

I can say from having taught classes on these loans that your contractor will be the biggest key to your success.

And lets say you then rehab it only to find out there is bad title and you make a title claim.. if there is no loan on it your only going to get 50k from title insurance and you will lose the 50k you paid for the assignment and any money you put into rehab. 

If you don’t care about maximizing loan amount then you could start whenever.

This is a personal choice and depends largely on your risk tolerance level and the current demand for rentals in your area.Vehicle Repossessions: Having a vehicle repossessed is strong indication that a tenant cannot handle their money very well.