I would say very honest PMs who walked my Indy properties (after the I closed on the homes) or at least knew that neighborhood and an honest construction management company were very helpful - they all said I better add in a lot more reserves to the repairs and cap ex for old Class C.

Fannie Mae and Freddie Mac have both confirmed that buyers whose agents are compensated by the seller will continued to have access to financing through the agencies.

Typically they'll look for additional reserve funds in your name to make sure you can still complete the project in case it goes over budget.

You want to make sure that on the rehab side that you aren't stretching your reserves too thin.

Depending on the location of the rental property, I would need to confirm that I have the proper licensing and I’m following the local permit guidelines. 

@Alberto Solis, with TICs, just make sure you understand things like how the operator will be reporting for your TIC to confirm they will be supplying all necessary info to keep your TIC in good standing, and, probably bigger, ask if you will need to be signing any loans.  

Consider the down payment, closing fees, remodeling budget, and financial reserves while saving for a house worth $100-150k.

Not having enough reserves is hurting a lot of operators right now.You can always implement Ratio Billing for the utilities and bill back.Be careful with unit sizes, and if there is central air or PTAC systems when getting market rental comps.Looks like you've got an opportunityGino

I understand your concerns but you still have to have the funds to put the down payment down and have 3-6 months of reserves unless you are experienced.

@Ben StanleyI would assume you get zero revenue from anyone else and be able to afford the home yourself by getting qualified at a local lenderIf you are solely relying on someone else as well without a reserve your level of risk just increased significantly