They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

As a licensed contractor and real estate agent, I can review your estimates, ask the questions you might not know to ask, and help you make an informed decision that balances cost with quality.

Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.

A lot of research and studies have come out around high paying jobs make large impacts. 

I highly recommend managing it remotely if possible.

.* Work Quality: Jenny never showed up to the house, she sent 2 people instead, she never mentioned she would not show up herself, she never asked for approval to send two others instead, they did not complete the job, and there were multiple unauthorized charges on my card.* Receipts and Expenses: Once I brought to Jenny's attention that we were 20k above budget, she refused for days to give me the receipts, saying that I needed to give her my credit card statement first.

Your situation is a little more complex than most people and I highly suggest you consult an attorney. 

I'd keep 70% as a base and shoot for 90%+ on the high end.I think I'd be pretty happy with 90%. 

Highly recommend

If you really like the place but you feel that it is priced too high for your budget, instead of saying “it’s priced too high” and insulting the seller, simply say “I absolutely love your place; it is exactly what I want, and I’d really like to buy it.