Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

I would not buy on a land contract (maybe a piece of land but not a residence) but have owned them in the past (we bought them on secondary market).Way too much risk as the borrower - see the post I made yesterday in the note investing section where a homeowner gave someone a land contract and still sold the house to someone else.

We've noticed 3/1's have had more success as that is what investors are looking for and hindering my chances at a sale.

I've attached an image of my proforma based on your report and using a different property in the market.

Depends on your market and competition.  

The partners between a realtor like myself (proficient in renovation experience), a general contractor, usually a loan consultant to support the buyer and the lender, (along with a buyer and seller of course) are the parties involved.I come across so many homes perfect for 203k or HomeStyle buyers, on and off-market, it isn't funny.

In this area, market values hit around $4.95 million, giving you a solid 131% ROI.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

I'd love to help anyone break into the Huntsville Market! 

Partnering with someone already in that market would be wise.