Delays, unforeseen repairs, and underestimating budget up front are all much more dangerous occurrences once a gap lender is involved. 

Purchase price: $35,000 Cash invested: $15,000 Sale price: $80,000 3/2 SFR with shop sold in 2021.

@Brandon Croucier is giving you solid info on finding an experienced and honest mortgage broker who can shop your exact scenario both ways, with the rehab and without and break down the benefits of each with all fees so you can see an apples to apples comparison. 

Use the brokerage account to fund the downpayment and repairs to bring it up to the comps in the area.

I stopped into a barber shop and the lady asked me for my phone number.

My firm integrated the services together and our clients have loved the one stop shopping for all RE accounting, tax, asset protection and entity work. 

. $150k down, 5 year balloon, 8% interest, no inspections, repairs, or appraisal, $20k over asking, and most importantly.

I’d recommend shopping around with different DSCR lenders and considering lenders who specialize in investment properties for more flexible terms and options.Good luck with your investing journey!

Even with the mortgage paid off, some of the $2000 in rent will go to maintenance, repairs and property taxes.

Tell him you'll give him a call :) This is one of the reasons why we tell tenants they need to vacate the property for any major repairs.