High credit scores and low DTI are often required…and these take much longer than I first thought…Navy might take 45 days to get through the gauntlet.  

Pretty cool.You probably won't find this type of home in Florida or anywhere where the water table is high.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Based on your numbers, and assuming you have a credit score high enough and have never filed for BK, you shouldn't have an issue getting approved for an HML to buy/rehab the property that I would estimate at about $370k-$375k (which includes 100% of the rehab costs).

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

Of the conversations I have had with people discussing hard money lending, some seemed opinionated in that the high interest rates and terms were enough to scare them off.

Would love cash flow, of course, but if I could at least break even on a highly appreciating property, I'd be happy with that. 

High-quality photos and detailed property descriptions are key. 

Quote from @Tom Hall: My mortgage rate is very high  and I would like to pay some of it off, so that my monthly payments would go down a bit, I dont know if it is financial smart to do it or not?

. - Prices are too high- Prices are falling- Interest rates are too high- My Cousins, Mothers, Sister told me that Real Estate is too riskyThere’s never a “perfect” time, but everyone wishes that they started sooner.