Thanks for sharing, really great advice and lessons floating around this thread.For what its worth both my loans are with WF and they did take a lot of work and a very patient seller on the second deal but the broker rocked so I stuck with them!

you get the drift  there is always something in each area that you need to be aware of .. seems to me all markets have pro's and con'sbottom line is its no real mystery for this stuff.... you don't need some fancy spread sheets or cash flow calculator.. its 50% of rent up to about 100 to 1200 minimum for on going Cap ex PM taxs insurance maintenance ... and higher with low rents ... end of the day that's were it flushs out these are just SFR and simple one's at that ... that's the first thing you do when looking at rentals then figure it out from there...

The GC does charge a bit higher because they are floating a larger portion than normal jobs.   2) Cash/Hard Money/HELOC/Private Money: If you can pay for the property and then refinance out as you will be living there that might be the least amount of red tape.  

In almost every property I've ever bought, there were unexpected expenses within the first six months even though I did a property inspection with a professional.How are you going to float the payment each month if it's vacant?

If you have any questions oh, there is a lot of information about this system online including some introductory YouTube videos and miscellaneous worksheets floating around.

OR, if you can get the rehab done quickly, then do a full-doc with a 7 yr ARM and maybe your rate will float down as things improve and you can avoid a second refi.

If you can still float with worst case scenario, then go for it. 125k purchase price is nothing.

Fake cameras are cheap and easy, keeping them as lowkey as possible, no visible signed of work or tools.Also I keep some low income workers of mine floating through houses to stay while they are being worked on.

I hadn't really thought about floating just straight payments, but why not ask?

@Dallas KiddI installed floating vinyl tile over padding, not realizing the flooring should not go over padding. sadly, did not realize until after I put it in 4 houses. as of now, only 1 house needs replaced, but I am sure others to follow.