Don't assume, CONFIRM. 

In Milwaukee that is a $60 "fine", but we get along with the inspection department very well, we have the same goal: confirm and make sure everything is done propperly.Where is your agent in all this?

@Dmitriy Fomichenko / @Bernard Reisz - thank you for your the helpful inputs. you've confirmed my gut-feel on the risks going into eQRP given my situation. :)@Terry Lawson - we have a very similar situation and I feel the same way about not being able to justify self-employment.

You need cash reserves, not credit cards.  

Altough you may only "need" 20-30% down having reserves will go along way with a potential lender.

Thanks for confirming!

I am happy it is complete and that I have the reserves to not have any significant impact from the overrun other than not liking it and making virtually zero for our efforts (my guess is value add is about the same as our expense - we traditionally add value 2x the costs).  

As I mentioned my contact person was different but it is what it is, you are the first person to even respond that they successfully closed a deal with them, either way anyone the searches on here or Google will be able to see what I experienced and truth be told I've never made a negative online comment or review about any company before, I'm usually of the mindset "it is what it is" but my situation was a different experience where they were committing a certain rate/term and confirming all was good until after business hours on the day before closing - sorry but that is just SHADY!

Again, a CPA can confirm this or tell you I am full of sh*t.  

If not, going with a single-family home or a duplex could be a good option.For larger investments, you'll need at least six months of reserves to cover any unexpected issues.