My suggestion to improve your cash flow is to find another bank/lender.

Hey, congrats on finding a potential flip—it sounds like you’re on the right track!

I have little confidence in turnkey providers, deals are already hard to come by, if they take another 20% cut before.. much better to buy a property from an owner that is in good condition.

I have heard that CA is very competitive and very difficult to find deals in.

No problem with down payment but will need conventional load which is not a problem as I have been pre approved many times just did not find right property.

@Steven HsuBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

@William BohanWell, owning out of town means finding good "people" to manage and support your investments... 

It's important to find out.But for now, let's assume that the property is worth $63 million as @Jason Piccolo indicated above and the loan balance is $59.8 million. 

@Alba Cheung It would be nice if you provided us with an update.

An appraisal fee in advance for an actual appraisal is legitimate, but you can find lenders that don't require appraisals and don't charge appraisal fees.