Thank you, and thank for details advice, I really like have no option period, in some of our offer, I think we should have done that, since we don't see much issue with the house except cosmetic, and even though there were issue with foundation and plumbing, they have been fixed with high reputation companies and with transferrable warranty too.

@Lucas Schlund there are logically, 3 options:1) Buy Cash: PROS: You can get better prices on houses because you can close faster with motivated sellers and buy houses that need repairs to qualify for a mortgage (less buyer competition)CONS: takes the longest to save the funds2) Use Rehab Loan:PROS: Same as #1CONS: more expensive loans:---FHA 203(k): not that expensive, but must live in the property for 12 months before renting---DSR Rehab loan: relatively expensive and may need experience to qualify3) Mortgage on Property with Cosmetic Repairs:PROS: easiest & cheapest to doCONS: lots of competition, so can be hard to find a "deal"PM us if you'd like to discuss these in more detail.

In my case it’s almost all cosmetic.

Focus on energy-efficient improvements, modern amenities, or cosmetic upgrades that appeal to San Antonio's rental demographic.Community EngagementAre you currently investing in residential multifamily properties in San Antonio, or are you considering making your first purchase?

Just cosmetic rehab.

Purchase price: $45,000 Cash invested: $12,000 Sale price: $124,000 Old single family home I flipped with some structural repairs, sanding and refinishing original hardwoods, new kitchen, light bathroom update, paint inside and out, and other cosmetic touches

Ask around your gen contractors, what is the cost of cosmetic repair per sq foot in the area of your interest.

Find some sort of deal (which is hard to find right now as prices have risen substantially over the past handful of years), or some sort of value add (maybe find a fixer upper and do a lot of paint work, cosmetic, etc. yourself to get started and save money). 

Everything else in the area is selling for 440-460k and still needs 40-50k in cosmetic rehabOur client is putting 10% and using an FHA loan.

One BP community member I got lunch with yesterday told me successful flippers avoid minor cosmetic repairs such as paint, trim, floors, etc. due to a glut of investors all trying to do the same.