Congratulations on the successful purchase.

There are far too many regulations, the transaction is a much longer process, and we are talking about someone's biggest purchase.

The breakdown is as follows:2 bed / 1 bath1 bed / 1 bath1 bed (studio) / 1 bathThe property was previously rented out for a combined total of $3,400 per month.

This is not yoursituation, but just to walk through the different thought processesin Holding/Selling that a friend of mine is going through.Helped my friend getinto the Self Storage business and walked him through the wholeprocess from evaluating the market, selecting a site, developing thesite, systems, financing, insurance, etc.

.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Quote from @Carlyn Chism: Please share lenders who are low credit score friendly and or hard money lenders that are easy to work with, e.g. won’t tie your money up in draws. 

I would consider getting 1-2 deals on market before you purchase off-market.

I sunk a large amount of capitol into these when I purchased them just to make sure they were nice. 

The purchase cost is on average $350k - $450k.

I've been investing in real estate for 10 years and have purchased and rented 50 sfh's and duplexes.