We plan to come back live in it the other 6 months, fix it up more, repeat that process until we can find another deal that makes sense for us. 

I would probably take the risk at $500, but $1k feels more of a ripoff like most guru programs. don't waste your time if they don't meet your criteria there is ZERO chance they will meet this guys.. remember they make their money with you folks dreaming of making money and paying for the dream.. 

With that amount saved up you could buy something and still comfortably make cosmetic updates and have reserves. 

Not sure if that is the case for you or if you are worried about burnout but if not, I would continue making extra as a nurse which will help with getting you approved based on income for future homes. 

All good, he got the job and started on May, 10, 2018.To make a long story short. 

Is it hard money loans, angel investors, etc?

Making money was a bonus because I live here.How did you find this deal and how did you negotiate it?

If you can find a competent and trustworthy contractor, you can make it work.

It’s just part of the game**They have multiple leads & opportunities in play- If you’re banking on one contract to make or break your business, you’re already losing.

Since you can't control the sale price, you basically have a $4k cushion to your reno costs, or otherwise you lose money compared to the as-is scenario.