Quote from @Deborah Wodell: Hey everyone,When it comes to fix-and-flip projects, the down payment and closing costs can add up quickly.

I am getting to the point of wanting to back out due to the 27k combined Closing costs, not including down payment. seems like a I should look into finding a new loan officer.

And don’t sleep on local banks or credit unions—they sometimes offer flexible portfolio loans that could work for a deal like this.Since your wife qualifies as a first-time homebuyer, check out any state-specific programs or HUD options for down payment assistance.

We have numerous who have their payments set up to auto-pay.

Know that every long term lender will require a survey and if something comes up on it when you are trying to sell or refi, you could get stuck in hard money without an easy or quick way to get out.Is there a pre-payment penalty?

The only real advantage to using an FHA loan is to offer only 3.5% down payment, which in my opinion is barely justified as an advantage. 

I have the opportunity to help a family member be part of a joint venture with them putting the down payment down.  

When you pay the invoice/expense in the AP queue (i.e. transfer funds from your operating account to the AP/CC account) it show as a payment for a specific expense/invoice?

This is from the BP rental calculator and is exactly what I'm wanting to see, just with extra payments each month. 

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.