Let me know if you are interested in discussing this option!

I think the first step would be to contact a lender and figure out our best options moving forward.

Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

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). 

I wasn't aware it was an option.

We've been very friendly and respectful to each other, and just don't want to ruin that kind of tenant-landlord relationship.

I selected Lewiston for the post as I didn't see an Augusta option, but I do work all over the state.It was my family's property management business that brought me to Maine and sparked my interest in and passion for helping investors achieve their goals. 

It would be a tight budget but I do have money set aside for repairs.

I know there are a lot of options, especially since they are family and willing to carry the loan. 

I am going to finish the rehab and get it rented then resubmit for a rental loan.I have used Cashcall Mortgage twice and have been very happy with them but Elite seems to be more flexible and have more options so was going to see if they are competitive.