If you subject property is 1500 sf, you need to find comps in the 1350-1650 range (+- 10%, which can also be +- 20% depending on market and circumstances), adjusting for condition, location, amenities, DOM (days on market) is all the art portion.

Check out lease options and subject to deals.

Paragraph 1 defines a "non-occupying borrower": A Non-Occupying Borrower Transaction refers to a transaction involving two ormore Borrowers in which one or more of the Borrower(s) will not occupy theProperty as their Principal Residence.Paragraph 2 states that all transactions with a non-occupying borrower are subject to a maximum of a 75% LTV (25% down).

In my thinking on the subject, the reality is you need to put having a family first...

I know you wrote that you're under contract, but please make sure to make the contract subject to a satisfactory appraisal and that the work was permitted. 

@Chelsea Ziss As mentioned, you need a cpa”s advice going forward.But...1) do not put the rentals in the S Corp.2) it Could be beneficial to do your flips, depending on how much you make per year with flips, in the S Corp3) your flip profits are not capital gains, they are ordinary income and just like your commission 1099 income, subject to 15.3% ss/med self employment tax. 

I'll do some looking around and see if I can find an attorney knowledgeable on the subject.

Thank you so much for your vast reply and here I would like to outline few ideas that I got:1 competitive market same as everywhere it is true and with the idea building more relationships through realtors, I am one as well, vendors and wholesalers something will come to fruition.

That's what the entire sordid industry is built on.Get your license and subject yourself to the regulations the state has in place. 

Would the bank give you a 'mortgage' for 800k, or is it subject to appraisal?