Here are the detailsPurchase price 40kRepairs cost 40k ARV = 170kMyself and my business partner working on this deal, I am full time employee and my friend is self employed. we are looking for 70 to 80% LTV , 10 to 12% Interest , 0 to 4 points.

It means that income is taxed as if you are self-employed vs. the preferential tax treatment of investments.

@Patrick KetchumLooking at your bio it appears that you own a company and are self employed?

Is he employed?

We like the Allure laminate flooring, it can handle water better than others.

She set up what is called a captive for her employer.  

I have a messy but interesting first opportunity...Friend of a friend is in bankruptcy and facing eviction but has good employment and a good pay record.

@Barry Courts, in addition to what @lisa Kohl has said you need to employ guerilla marketing and reach out to buyers outside of your zipcode and your state.

cool thats good to hear, however the other side of the story thats not really talked about by lenders is that if you have a lot of other properties in the area you are trying to buy a property "in" then it may be very difficult to purchase an eleventh financed property as a primary residence unless it makes sense for your given scenario.Often times this requires:- a Great LOE - letter of explanation- supporting documentation like relocation letters from employers, LOE's from family members, spouses, marriage certificates, mammograms (show increased family size), etc etc list goes on- your  track record with other properties, like did you buy them as a primary then switch to investment properties (underwriters test to see your past "integrity," with mortgage transactions).

I am self employed (I own a small used car dealership) and have all of my money tied up in my inventory on the lot ( about 30k) and I also own about 11 acres of land that is in the process of DEM approval to build.