Hi Nicole,Just an FYI, some real estate offices will pick up the tab or reimburse you for getting licensed if you join their firm, also its best to find an office with good training program otherwise you're just armed and dangerous until you get more experience under your belt, anyway, best of luck!

Domenic, I'm chiming in only because I think otherwise, your post might go with no responses.From a lender's point of view, what I'd hear would be "I barely have $5000 to do the rehab, I don't have anything more than that, so I need 100% of the purchase price", which as a lender is a challenge.Assuming the other #s bear out, a lender would much rather see you ask for 40K, come to closing with 15K, spend another 5K on renovations, and then maybe they would be willing to reimburse you for the 5K renovations (thereby adding 5K to the loan balance).That way they can see you have $ at risk in the deal just like them, and also that you have the financial discipline to save 20K for a project like this (and are so confident in your #s that you're willing to risk the 20K).Also as a lender I would probably scrutinize / be cautious on the comps supporting the 80-90K ARV just because a small 700sf 2BR house can be a lot harder to sell.I don't know that the #s would make sense for a buy, fix-up, and resell deal, they're pretty tight when you factor in closing/holding/selling costs.

Income from one tenant is $37,000 / per year with $9000 expense reimbursement.  

And then let him use those payments to reimburse you on the loan.This is going to cost him a little extra (taxes on the payments), but it's the best way to protect yourself should there be an issue with the contracting arrangement.

In addition to cash for keys, you can offer to reimburse them for the Uhaul or give them a set amount for moving expenses.

Employees regularly pay expenses in all kinds of business and then get reimbursed for "Employee expenses".

Any payments on the balance remaining from the original loan must be included in the debt-to-income ratio calculation for the refinance transaction.Note: Funds received as gifts and used to purchase the property may not be reimbursed with proceeds of the new mortgage loan.The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value).All other cash-out refinance eligibility requirements are met.

Plus you'll need funds for rehab because they won't pay for that up front, they'll reimburse you as you go along.

I needed $10k down, $10k reserves, and $10k to start the rehab (later reimbursed).If you're looking to hold it for a rental, I've had good success with smaller local banks that hold the loan in-house, and have more flexibility on the condition of the property.- Tom

I shared this with Memphis Invest/REI Admin. because they needed to know that if they did not reimburse for the stove it will continue to be an unresolved issue with the police.