This may have changed over the years, and I had already had about 6-7 yrs of a small single family rental portfolio under my belt, and W2 experience in commercial real estate.  

After a couple deals under belt, then take out a massive line of credit and grow fast with the all-in volume game. 

So the value prop is to simply shot gun as many marketing peices as you can afford and then offer 10 to 30 cents on the dollar and wait for takers.. then once you close resell right away.then there are infill lots through out the US in areas that are actually seeing new builds on infill .. infill lots in areas that have zero new construction are basically worthless.. think major rust belt cities were resale values are 100 to 125 a foot or less..

Quote from @Otis Sanders: @Luka MilicevicCan I pick your brain on some MTR property managers ?

80-90% LTV/ 100% LTC with a cap at 70% arv - If you have good credit and 5 doors under your belt you should get 85%, maybe 90% if the deal is really good with 100% of the rehab funds in escrow to be drawn upon when work is completed. 

Purchase price: $240,000 Cash invested: $10,000 Working on getting this first "OFFICIAL" deal under my belt.

I know that :)   I have great credit 740+ FICO, a few flips under my belt and this current project isn't complicated ($110k purchase price, $20k rehab for cosmetic fixes).They pulled credit before my term sheet was issued :(   90% LTV on purchase / 100% LTV on rehab  (What they sent:  65% LTV on purchase / 100% Rehab)Rates starting at 7.49% for 12 mos  (What they sent: 10.49% + 2.75% Loan Orig)We have a tight close date and I have to call the Account Executive everyday to find out what the status of the loan is, term sheet, etc..I'm not sure if I will use them for this project as I have already received 90% LTV for purchase and rehab, 9.49%, 12 mos, 1% loan orig, from another source but I wanted to try them as I heard many good things about them from other investors. 

You don’t need one because you’re a consultant with literally thousands of deals under your belt and you know everyone and every house in your market so you’re the MVP on your team obviously.

Maybe after I get a few more deals under my belt.

It took us thirteen years to get to the point where both of us could quit our W-2 jobs, or at least substitute our jobs with work we do to support our real estate investing.Yesterday I cleaned out my palm sander, sanded down a door with 220-grit that I had primed the day before, arranged to meet my agent at a property we're about to put on the market, primed a doorframe, read about personal finance for two hours, put together a shelving unit, dealt with a tenant over an electrical and cable internet shutdown.