If I were in your and/or your mother-in-laws shoes, I would go to a local bank and use the free and clear house to secure a $150K+ line of credit. 

.: For me it was at total for $13,000 for first year set up with filing fees, registered agent etc.

It's simple enough to make a row for income, and another for expenses, and then subdivide those expenses, and add them up in the total expenses cell and then subtract the gross income from those total expenses to get my net.

Quote from @Paul Lucenti: We just closed on our 9th deal and first of 2025 - sales price was $115,000 and total monthly cost is $890. 

Could any of you guide me on what I should do initially to secure financing?

And if a property is owner occupied, how can you secure a loan with a hard money lender not being able to view the home to estimate repairs?

Hey @Thanh Lu, we don't do much direct bookings but we do have a $500 security deposit.

Securing quotes for properties in flood zones can be challenging and time-consuming (especially if vacant), so it’s unlikely you could have done it quickly.

A high property tax rate will increase the taxes more quickly as a percentage of total expenses when the property value increases.

The property investment in total is estimated to be 105K with $1600 per month cash flow when complete.