The 1% rule is best only used as a quick and dirty evaluation used to pick which property you plan on running additonal calculations on.

This is a conventional loan where they also cover your PMI (private mortgage insurance).

Quote from @Daniel Tanasa: Another option is to get a small cash out refinance from the house you plan on fixing up, if is in financeable condition, and use that to fix it up, while still cash flowing.

Plan is to purchase a couple homes over the next year.

Hello everyone,I’m currently in the planning phase for a development project just outside of Santa Fe, NM.

Work with your commercial lender/insurer/lawyer/personal banker and see if they know of any interested parties.4. 

Jarrell is planning on a population surge of 50,000 new folks.

I am getting started in real estate investing soon, and I want to plan for the best course of action.

You haven't told us anything about what you plan to do after purchasing the property, so it's not clear how important interest rate is in the long run. 

As others have stated, your fit & finish goals should be guided by whether you plan to:1) Rent: tenants don't always take care of a property, so you want to use lower-grade materials and workmanship.2) Flip: higher quality on workmanship and materials is usually required.Regardless, you always want to "Maintain to the Neighborhood".