Some will lend to first timers, just don't expect to get their best rate and term the first go round

Today I did my first round of Driving for Dollars in north Hall County in Gainesville and found a large amount of suspect investments.  

I will be doing 20% down with a 5year/25 year balloon interest rate. i'm calculating my monthly payments would be somewhere around 4K per month rounded to about 50 K per year

One is {Glazer Design & Construction} and the 2nd would be {Round Here Renovations}.

I found it beneficial the first go round as I had questions that I wanted to work through with them.

You can pretty much guarantee that after the tenants leave you will have to do another round of rehabbing before you sell.  

I do believe a recession with kick in soon however banks and lenders this time round have been extremely conservative.

What you have going for you is that your financed offer is probably generally higher than the all cash offers based on [ (ARV-rehab )*70% ] type math.If you're just praying and hoping the appraiser doesn't call anything out on a beat up neglected property, listing agents will simply round-bin your offer.

These rules were really written for angel and seed rounds and NOT for real estate.  

So we hit a snag on our last round of financing and are looking to buy some time and comfort with a hard money loan.