Once the property is in service your rehab costs will be added to your cost basis. 

You can use a SQ FT format to guess rehab but that is only good to initially look at a deal.

Cash on cash describes how much cash a rental property is putting in your pocket on an annual basis divided by the cash you took out of your pocket to buy it. 

If that's the case, you should be able to rate/term refinance at ~75% LTV with a DSCR loan, and with some interest-only basis, your payment will go to ~$850 (based on ROUGH pricing TODAY).

I'm still scared till this day. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

If you have more than 4 or 5 loans, then you might want to engage a sub-servicer to handle the billing and payments.

You need to build your credit.

LOL but this route you have only 4 weeks to contact all the sellers MULTIPLE TIMES.- The golden rule in my group is the seller has to have a deal, the numbers work, be willing to sign, be willing to move out no later then 7 calendar days prior to the auction!!!!! 

My name is Wes and I live about an hour north of Toronto, Ontario, Canada.Looking to get into real-estate investing with long term rentals, BRRR, and House hacking.Currently looking to also find other other local people to chat to about real-estate and how to get started in our currently price inflated Ontario market.Let me know if you're in my area!!