When I started my goal was to set aside $10k or 1 year of vacancy+expenses, whichever was higher.

There I'd quite a bit of land here that is unbuildable.As far as not answering phone calls, the best course is to develop a relationship with a real estate broker in that area, or in whichever area you want to invest in. 

I am working on getting approved for funding for my first fix and flip and wanted your opinions on possible doing it this way (without spending much (or any) out of pocket money)Current situation:Business Line of Credit : $15,000 @ 16%Business Credit Card: $10,000 @ 10.9%(Zero balances on both)Liquid Reserves: $10,000 (personal account)Here are my hard money lenders terms:Finance 90% of Purchase + Repairs or up to 75% of the ARV, whichever is lower12.99% APR3.9 points at closing + credit line admin fee (if applicable)2 year termNo pre-pay penaltyI plan on purchasing low at first.

Whichever business makes the higher percent of your income.

@Alex PrinceYour wife can decide on one of these links:https://www.realestateexpress.com/real-estate-lice...https://www.kapre.com/real-estate-courses/californ...https://www.alliedschools.com/real-estate-programs...https://www.carealtytraining.com/Whichever one she selects her questions will be answered when she calls customer service..

Good luck with whichever path you choose!

I am "on-site" or my Joint Venture Partner, in whichever city I am doing a project, Seattle, Phoenix, Austin, San Antonio - it doesn't matter, is "on-site" for all of my projects.

Welcome to BP.Just to supplement what Darryl said, loans will be based on the appraised value or the purchase price, which ever is less.

Section 102(e): A host may offer multiple short term rentals at a single property...Section 106(g): Occupancy in a short term rental shall be limited to a maximum of 8 transient guests, or 2 guests per bedroom, whichever is greater.

And if you are missing out on adding principal to your 401k for years, then you are risking your retirement.And just in case you haven't come across this info yet, you can only borrow up to $50k or %50 of your 401k, whichever is less.I hope that helps and good luck!