Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

If your house is old, value is low. 

Therefore, it’s not guaranteed to be approved or implemented as it currently stands.

As we wrap up the year and look ahead to 2025, the real estate market continues to present unique challenges and opportunities for investors, brokers, and lenders alike. From fluctuating interest rates to evolving buy...

I have done it successfully on my last 2 buildouts, maybe 3, but only because I was able to acquire the properties at a very low price and I did all the work in-house (myself and some hired hands on staff).

Would a low enough sales price make all of my concerns go away?

Low cost, possibly yes, but also possibly very time consuming and that has a cost.  

Given the current market, I'd be surprised if he can get a bank to lend 65%.

Personally I like keeping my properties that I know are successful and have low maintenance.

Unless you bought in D class, very low appreciation area, you should be sitting pretty.