If you focus on a fixer upper you can renovate in 6 months and refinance on the ARV.You only need to be at a 85% LTV to refinance and its not hard to build 15% equity in a property in this market enviroment. 

My goal is to learn as much as I can, connect with experienced investors, and start building my portfolio.I believe wholesaling offers a great opportunity to get my foot in the door without the large upfront capital required for traditional investments.

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

Nobody ever regretted buying a good property, but you find hundreds of stories where people deeply regret buying a cheaper property.Maybe focus more on how to make more money, build a side biz, and let the real estate do what it does get better over time.

Quote from @Dina Schmid: You can sell anything you want, but that doesn't mean it will qualify for a home loan or be accepted by a building inspector. 

I'm fairly handy and have good contractor connections.

Hi @Yents Ybrimovic - I love the FHA 203k renovation, but to be honest I love the Fannie May HomeStyle renovation loan even more.As an investor and a general contractor, I have used both products here in Chicago!

We are looking for companies that OWN and are accountable for the full end-to-end process including purchasing, rehabbing/build, post-close property management.

It would be wise for a buyer to feel confident that the building is in good structural condition, that it has a certificate of occupancy.

Financing-  build a relationship with a regional banker, don’t shop for interest rates, start small and build history and loyalty they are your team, Cross collateralize, deposit CD/MM or custodial account with bank for loan, give them monthly updates, nail your deal analysis, do stress tests on your deal analysis-cost/interest rate/deal length/ sale price etc. 12.