Blue Gate Capital strung me along until very close to closing and almost cost me the deal.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

After my P.M. costs I collect $940 or so/month. 

All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

I had few options so our cost doubled.  

You will have holding costs along the way with repairs, maintenance, taxes, etc.

Not going to give here a lecture on S-corps, but take my word: no benefits, only extra hassle and extra cost, such as preparing another tax return.

Id keep looking if it was not an approved short sale ( even an approved short sale takes a very very long time and theres no guarantee that you will even close on the house after months of waiting). q1)There are plenty of non traditional lenders that could offer you construction financing if the numbers make sense but it will cost you with points and a higher rate.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

How much did the rehab end up costing and how long did it take to complete?