Ashish, this is so helpful, thank you for sharing!

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

Thanks all for sharing your experiences! 

Thanks for your knowledge in this area and sharing.  

referral=UZXgWmHappy to help review settings or share unused property assessment credits if needed!

I knew nothing about renovations, home ownership, or property management, but I had a vision, determination, and a mentor in my dad.

People of all experience levels come and share their insight!

Please share your thought and experience. 

They tend to have more stable tenants, no shared yard maintenance, and better long-term appreciation potential.

Anyway, I greatly appreciate you taking the time to share from your vast wealth of experience.