Best to use your own numbers to calculate rehab costs, but I understand it is difficult starting out.

I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

The toughest part about starting an education program is knowing that I can't MAKE anyone successful.

Quote from @Jaedon Stout: @Matt Ridenour yes the major Banks are the best especially for no doc funding and lending to start ups with great promotional rates.

I'm seeing rates start around 6.75% with your specific scenario. 

I started off doing long distance BRRRRs until the rates went up.

I started with $25k and I bought the cheapest distressed 2/1 SFH I could afford. 

Let’s start with CompliancePrompt:[1] You are an expert in the federal and state taxation of landlords owning rental property [you need to tell the AI what is expected].[2] I am a CPA, with expertise in taxation of real estate [unless you want a watered-down response, tell the AI that you want a granular response][3] Use IRAC format [This is used by attorneys.

Just to be clear, I would only charge them for lost rent, from the date they were to move in until the date someone else started paying rent.Now, would that hold up in court?

Hopefully you are starting to see these investments as products and they have a set market price.