But, at least there is time for you to have some plan B moves and still own the property, because when the lender calls a note due, it doesn't happen over night.

@Janani Rangaraj, here's the reality: an acquisition budget of $300k-$350k typically means buying in a B/B- market in metro Atlanta.

If for example I'm creating a B class single family rental, I want to meet EVERY "expectation" tenants would have of a rental of that type.

Selling I save 30k on the Reno budget resting in a 107k sale.What you guys think Keep a fully renovate home for 66k in a C+/B- area or sell for 107k for the next deal?

Quote from @Jon B.: I am thinking of making an all-cash offer to purchase a SFR with existing fire damage in the kitchen at a price well below market value The property is in otherwise solid condition and in a great neighborhood.

@Diane Kruse we actually buy used all the time from an appliance store.Due to our volume, we've been able to negotiate 6 month warranties.Will say that we would recommend new for Class A & B+ rentals. 

They tend to look for B-A class properties.

I want to buy, rehab and either long term rent or short term rent(airb-n-b).The question is how do I get funding for rehab if I am not employed?

Accordingly, per California law the landlord has 30 days to make a repair after receiving notice from the tenant (California Civil Code § 1942(b)).

A' (B, C, and D as well).