I'll do something that appears to be taboo on BiggerPockets, I'll share my rates and fees.Today, we were quoting interest rates between 10% and 12% for (1) a first-time flipper - 0 flips, (2) with a credit score in the 740's, and (3) putting only 10% down with us financing 90% of the purchase price and 100% of the rehab.

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

@Stephen Karathomas The values of mobile homes and what you can pay for them depend on the area(s) you're working in.

I have wanted to flip since the early 2000's but never could due to extenuating circumstances.

The thing about this bank, is that they seem like they are ready to s*** their pants at any moment, fearing I am going to default on them.

Quote from @Chris Seveney: Quote from @Andrew S Huang: I submitted request redemption June 2023 and was told that the funds scheduled for Jan 2024.

Regards,S

Please, if anyone has the name(s) of a reputable Detroit management company, please share. 

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.

Hi @Andy S. 3x monthly rent for income has worked well.