Second tip would be to use cautious numbers for the ones you will be estimating (vacancy, maintenance, and cap ex).

Development has great pool and it's a very clean property, well maintained, with many units (in the event of special assessments).After reading Ben Leybovich's article, I'm being cautious. 

I am cautious about that part, but first want to determine if this is a good enough deal.Thoughts?

Domenic, I'm chiming in only because I think otherwise, your post might go with no responses.From a lender's point of view, what I'd hear would be "I barely have $5000 to do the rehab, I don't have anything more than that, so I need 100% of the purchase price", which as a lender is a challenge.Assuming the other #s bear out, a lender would much rather see you ask for 40K, come to closing with 15K, spend another 5K on renovations, and then maybe they would be willing to reimburse you for the 5K renovations (thereby adding 5K to the loan balance).That way they can see you have $ at risk in the deal just like them, and also that you have the financial discipline to save 20K for a project like this (and are so confident in your #s that you're willing to risk the 20K).Also as a lender I would probably scrutinize / be cautious on the comps supporting the 80-90K ARV just because a small 700sf 2BR house can be a lot harder to sell.I don't know that the #s would make sense for a buy, fix-up, and resell deal, they're pretty tight when you factor in closing/holding/selling costs.

I would be very cautious using a Goosehead agent. 

Many have over-leveraged by cashing out all their equity in Property A to fund Property B and they may end up losing both.I think it's time to buy cautiously and build a reserve.

However, with a family and 1 newborn son and a 7 year old daughter, I am a little more cautious.

I'm an engineer, so I am naturally cautious, calculated and handy, but YouTube goes a long way.

I tend to be very cautious with my analysis of properties by taking 26% off the top to cover repairs, vacancy, CE, and management so cash flow for me comes into play after taking away 26% and then subtracting the monthly mortgage payment.

Hey Zach,You may want to be cautious on how you have your realtor ask if seller financing is a possibility.