To be fair I did ride the low interest rate and high appreciation train, but you get the idea.

Also, don’t just accept the first loan offer.

Quote from @David Young: My wife and I are new to this and are saving for our first property our goal is to start looking for properties in November 25, we have a couple questions, would it be wise to invest out of state for our first time investment (we do plan on physically going to see the properties to potentially invest in) ? 

However, you could assume a VA loan and get secondary financing and only put down 10% of the purchase price and get a low interest rate.

You always want the best numbers to be the last deciding factor not the first.

Usually the first draw happens after demolition/rough installs for electrical and plumbing. 

We actually have in-house underwriting that keeps our eviction rate under 1%.

My initial reaction is that given today's higher interest rates I don't think $100k income will support an 800k loan because the loan payment on an 800k loan (30 Year Am and 7% interest)  is about $5,000 - $5,500 and your income is about $8,300 per month.

For the first few, having a GC work with me, I think it will allow me to get a better understanding of how to recognize scope of work.That said, how much are GCs charging for home flips? 

Many years ago, we worked with a VA on a fixed rate.