Its not great but its not bad either)I had to bring 35,500 to the table (25% down payment plus closing)I spent $9,300 on rehab and a additional $1K on inspections and flood elevation survey to get the flood insurance downI have no holding cost because there is currently a tenant in the front which is floating my mortgage and insurancesTotal out of pocket for the entire project is roughly $46,000.I will be refinacning into a 30 year commercial loan with 20% down, so if the ARV comes back at 165K like its expected to I will get a check for 132K.

Are you planning on having him float you the money and you purchase it in your name and treat his interest as a loan or would you go in as joint owners with both on title?

The "floating" systems are extremely easy to put down.

As for flooring options: Floating vinyl planks might work.

I would love to own a small portfolio of rentals, just not sure I can float this rental and have enough for a down payment on our "forever" house.

  (2) utilize the "float" between receiving income and when bills are due to artificially lower the average daily balance. 

Call Banner Bank and ask for Lenny  Severs.

Not this $10k net profit deals floating around at the local REIAs. 

For example, not a good idea to use regular tile on floors (mobile homes "breathe" with temperature and humidity changes), best to use vinyl tiles that have beveled edge and grout with special pre-mixed grout especially made for these tiles or vinyl wood planks that "float" and leave half inch gap at the walls....same with carpet, need to leave half inch gap at walls, otherwise carpet will buckle and need re-stretching.

I've had good luck with the floating click together Luxury Vinyl Plank.