You need to speak with an investor savvy lender...you are talking to a robot in a cubicle at those big companies...find a local lender who knows the strategies.

It's a monster house about 4,300 sq ft for the area 3 sides brick with 5 bed and 2 bath upstairs and a half bath on the main.

But if you're looking to buy, there is no way around the Fannie Mae REO monster, but...You could look up the usual Fannie Mae listing agent suspects for your area, call them, and see if they've got the inside scoop on it.

Under the home, especially if a basement is not the monster it appears.

Or they are just greedy and dont really understand or think RE has monster returns.

But this would be a monster flip for us.

Not a house, a monster. 9,000 square feet 4 family.

If you can find a distressed seller that needs to sell and can get a place for 80-85 cents on the dollar and put 20% down in should cashflow like a monster.  

Your property manager helped validate a monster sense of entitlement and they are going to need to be put in their place which is hopefully out the door. 

Two of the rehabs were known and are essentially part of the acquisition cost.Below are the primary successful strategies in buy and hold:Add value and insulate against short-term blips in monthly cash flow or market downturnsBuy properties in locations with strong (and predictable) appreciationPurchase cash flow monsters (2-4%ers) with hands on local managementNear 1%'ers with no value add and little appreciation will be a problem.