I'm having a very hard time with them and on the verge of losing my earnest money on a house purchased to flip.

Did you investigate the history of heating costs before purchase?

So you purchased it cash and just need the rehab $?

so, it could be ( am throwing out random numbers) a purchase price of $350K with $10K down, and then 30-year amortization at 6.5% with a balloon payment due in 5 years. 

Ultimately you need to understand the underlying economics, psychographics and demographics of the market you are purchasing in to know if and how you can re-tenant the property.I'm a bigger fan of dollar generals or family dollars that are in multi tenant shopping centers. 

Though DSCR gives you a better picture of how the property is projected to perform vs debt service, you can't rely solely on one measure to make a purchase decision. 

From a financial standpoint, the key is to ensure you're purchasing properties at a price low enough to make rehab costs and refinance achievable.

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

You will need to narrow down the zip code or street a little more based on where you decide to purchase, but this gives you a good start.

Purchase price: $45,000 Sale price: $175,000 I lived here for a few years then when I was married it became a rental.