Property is 2100sqft and needs a ton of rehab since everything inside is in good condition however everything original from 1950.

For a flip, you'll want to get a builder's risk policy, which covers the property during renovations, including any damage from fire, vandalism, or weather while it's vacant.

Rewiring the home is not an option (cost to rewire verses what the house is worth/ what I paid) and the current wiring is in very good condition.

The air conditioning doesn’t work, the fridge is broken, and the property is far from "turnkey."

Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4  X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.

I originally invested in properties here because I live in the province, but the difficulties of managing properties under the current regulatory and economic framework have led me to plan for selling my properties within the next few years, once market conditions stabilize.

You also have to take into considerations things like appreciation levels and the current condition.

Many investors hesitate to start their next fix-and-flip project due to barriers like limited funding, uncertainty in market conditions, lack of experience in estimating renovation costs, or fear of unexpected delays and expenses.

It’s taking Seller a while to provide the HVAC report but while time passes after due diligence - Flooring cost is way too expensive at the price point they’re asking for 130K + Care of property never took place till decided to sell so I’m not comfortable any longer - Home sits on corner lot on a slight hill with crawl space - Lots of weather changes has caused the home to settle + improper supports needed. 

They can address issues quickly, which helps maintain tenant satisfaction and property condition.5.