I plan on using financing, I have a family member who works at a local bank who is helping me with financing.

The bank wasn't allowing interior access, but I was able to talk to some of the neighbors as well as the previous owner, and found that this home (and the subdivision) was badly damaged by the floods.

Hello, I’m new to BiggerPockets and real estate investing. I’m trying to read/research as much as I can before I start investing. One thing that I recently came across was that it may not be possible to get a loan for...

The professional money out there wants somewhere around 2pts and 10% and first position collateral.Banks on the other hand will give you 4.5%-5% money for first position collateral.Both of these lend up to fairly high LTVs, 80% or higher.I just mention these to set the window...Now think about it this way: If you have a family member or friend with $50k in the bank, how much interest are they earning?

Like the big banks adopting a futures market for BitCoin.

@Mike D'Arrigo and Lake City Bank

Purchase price( when it was purchased) RehabARV Rate Also, if refi is out of the question, I would recommend a line of credit with bank. 

Step 0 go to the bank and get pre-qualified for a commercial loan- see how much you can buy. 

Their default procedure is to wire transfer funds but since my bank, Wells Fargo, charges $15 to receive wires, I asked if they can send me a cheque image instead so I can mobile-deposit it.

Banks probably won't talk to you without experience.