While it may be thrilling to want to get going right away, investing the time to establish a solid base of contacts, savings, and expertise can position you for long-term success. 

Thanks so much for your time and expertise, Rookie investorBrian

It's just a completely different biz model that typically only the preferred developers are able to do. 

Like any investment the more control you have on the investment the more you can participate in the outcome of the investment and ideally leverage your expertise in achieving good outcomes.

This number is a parameter in the model.

Hi @Andy R.I am glad you realize expertise is more important than location.

At most of our detached houses we do supply a range, but even there we have had tenants bring their own deluxe models, which is fine with me. 

Not the purchase price.As an underwriter, typically you would model a potential acquisition using LTV on stabilized assets or properties that do not require significant improvements.This is because capital expenditure costs will typically not be financed by the lender.

With all that being said, I already have a pre approval letter in hand, I would lean on your expertise and ask if it it is possible to go back and have these rehab dollars included?  

If you don't have patience or expertise or time I would just sell and 1031 exchange into a property that generates income, appreciates and helps build wealth.