This will make getting into the investing (even if you are doing "no money down") much more doable and success will be more attainable.  3. 

@Aaron Harren I would agree with @Antoine Martel to finish this project and get it stabilized.

She was a piece of work, nut case from start to finish.

It will also potentially cost the lender MORE money than it would cost you to finish the project). 

There were several times where we felt like we were going to lose money on this property, but we carried on and were able to finish the house.

Downstairs finished basement is a 2/1 with no kitchen and plenty of space, and has it's own entrance from the back of the house.

Needless to say, it was a successful endeavor - see some photos below:After the original home was demolished - After framing - During Stucco - And the finished product - 

I refuse to ever rent in my 20's, so once my girlfriend finishes her masters, we plan to move and invest in a multi unit property that we can house hack (just to start off our REI journey).

Purchase Price with closing: $130,000Rehab: ~$80,000Total all in cash: $210,000ARV: $270,000 on average (low-end would be 250k and high-end would be $300k but a house just a block away appraised for $325k recently with lower finishing than what I am planning)If we flipped the property:Closing costs: $21,600Net: $36,900If we refinance and then rent:Rent: $1400 (but could be $1600 based on other comps)Tax: $100Insurance: $200All utilities: tenant responsibilityProperty Management (10%): $140 (we would self-manage but I like to build this number in my calculations)Vacancy (5%): $70Repairs (5%): $70CapEx (5%): $70Net: $750With only a net of $750, pulling out our cash via refinance the property would put us in a negative cashflow.

What finishes do they have?