Bring your buckets and your muscles, LOL.

Nice to hear from  investors  in my neck of the woods.

@Steven Hamilton II is in your neck of the woods- I would see if he's currently accepting new clients. 

Just guys with neck tats that drive jacked up 4x4s and chew tobacco in their sleep that come here for contract work in a refinery.Can't answer the lender question.My cleaning lady does it for free, and I get to sleep with her.6 months gross rent should be greater than the purchase price of the property.One of my properties has needed an exorcism ever since I bought it. 

That is some very powerful leverage with you doing some muscle to get the engine running instead of buying the deal.Yes 40-50% is a wise suggestion.

I use term sheets when dealing with new borrowers, and most other lenders in my neck of the woods use them as well. 

Most in my state cover rentals no problem, but they are a complete pain in the neck for owners nad tenants, they deny claims frequently, and use the cheapest vendors who will push back these repairs of others come up.example 1: Old republic Home warranty: Owner had a dishwasher that no longer cleaned. 

Just something to look into.I know of another property for sale in your neck of the woods if you want to reach out privately.

Big burly guys that drive jacked up 4x4s, chew tobacco for breakfast and have a scorpion neck tat.

Cons:Usually they don't like to lend under a one million for us they require 25% down and 1.1 coverage (ratio of the property income to loan).Run of the mill deal in our neck of the woods right now: 20 or 25 year amortization, 5ish% interest( based on the term) and term is 3-7 years, 1% originationThey require personal granteePros:For us, they are a lot more flexible then traditional financing and will finance a rehab (75% of AVR or 75% of the project whichever is less)It's a business credit not personal.