Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

The real question is what is the expected profit margin on the flip and what sort of documentable experience do you have.

If you are thinking of creating a secondary market of some sort, you'd be the third person in the last 5 years that I've talked to and answered this exact question. 

I would caution working with any lender that does not have some sort of licensing, reviews, and presence online.

The investor pool here is non-existent cause it's arguably the worst RTP(no pun intended) of any relatively big or known area. 

They probably have some sort of waiting period, but it's worth checking into if you think you have another year or so in that system....?

You sort of end up looking like a cheap skate, crappier rental if it isn’t working though… to a renter.All the best!

The asset that is the subject of this thread is in Houston, and not the worst area of Houston, either.

Also pro and consI would also like to know if this is better or worst than loans against 401K funds?

It is always a good idea to have a base case, best case, and worst case.