Would be happy to meet up and discuss your goals in more detail.Glad you said it, I didn't want to come off as being negative@Jackson Harris  the Phoenix area may not be for you with that kind of money yet for all the reasons Scott mentioned. 

I have made a lot of money in RE and negative cash flow is not a criteria that i typically ponder.  

All cash costs, and negative CF is a loss, must be recovered before you can make a profit. 

If they don't have a positive test, they won't have anything to back up the photos if it tests negative now.

@Jason Tucker - your concept is very similar to one we just completed the financing for. 

This creates a negative initial position.

Eventually we upped the budget to get something we would absolutely love even if it was slightly cash flow negative.

You can also sell them on sites like paperstac, debexpert or others as well as brokers like Mission Capital, Rams or Phoenix.Depending on quality of paper and interest rate will determine sales price - also I would say self servicing can have a negative impact on the sales price as the major players in the space are not fond of self servicing. 

If you are buying an SFR for 75k, put 175k into the deal (total cost is 250k) and it appraises for 220k, you are negative 30k before any loans are considered.

Rehab costs and  are key parts of evaluating deals, so it's great that you're diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor.