You are right, when the inspector mentioned the possibility or prior water damage is when you should of had that basement inspected by a contractor/professional and not listen to your agent.Gregg is right, the sellers were aware of some of the damage which is why they gave you a 5K credit. 

Sorry to hear about the investment going sideways and credit to you for sharing your experience on here.

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

Using a smaller bank or credit union is the way to go.Being that you have been in business for 10 years I am VERY surprised your business banker can't help you!

Most of our newer investors approach 2-3 lenders to discuss loan options.Some lenders recommend making your financing inquiries within a 45-day time period to avoid larger drops in your credit scores.All the best!

In order to execute on any of the strategies from #2, you will want to a work/income history and decent credit scores.

Financing through a personal loan usually offers better rates and lower costs, but using an LLC builds business credit for future investments.

If your credit ****** you need to hit up creditrepair.com or some other credit repair  company  and work on getting yp to about a 680 or more with you learning  from jerome.   

With fewer buyers in the market due to high rates, investors who move now have leverage to negotiate on purchase price, seller credits, and even off-market deals.The biggest mistake investors can make right now is waiting for perfect conditions.

I have one lender that will go up to 85% but need 720 credit or better and 1.25 DSCR no rural areas