I would probably not lend you rehab money on a second if it would put you over 65% Combined LTV (CLTV) and/or under about 1.1% DCR), even if your future income numbers could come true.I'm surely NOT trying to discourage you, but suggesting that you get the "weird" out of your numbers before talking to anyone about a loan.

What do you suggest in this case ?

I suggest making copies of the dec pages of all your policies and emailing them to multiple agencies to compare.  

AND more on one side than the other What do you suggest for the door color?  

Been out of town makes it harder to fined great deals at bellow retail. and the deals make no sense at TK Retail prices in market with No rent or capital growth. 

A good suggestion, though.

- you make 50% of the net profit - that is net less advertising or expensive - so if the expenses are $1,000 you would make $9,500.00 and I would make the same.The expenses are usually the cost of advertising the property for sale.So............... it you are ready to begin creating leads - this is what I suggest you do ---Farm neighborhoods to look for FSBO's, send me as many expired listings as you can in the neighborhoods where we are going to invest, Go to housing court 2-3 times a week to listen to the cases and meet landlords after their case is called, run some ads in the local papers (I will design the ad for you), get me a list of all the local auctioneers in the community, put flyers on super market bulletin boards, ask 5 people a day if they know of anyone interested in selling their real estate.Look for commercial and business real estate for sale - get me all that information and we'll make a call to get information and make them an offer (you present the offer for us)Later in the "Mentor - Apprentice relationship we will advertise on radio.Any questions?

If you go forward I would suggest you both agree to a value before anyone starts painting and put it in writing. 

If anyone here has any suggested reading, I would really appreciate it!  

At $600/month and using 50% for expenses, suggests around $30,000, but going in if it takes dollars to renovate, to be rentable, you may need to offer less or look at raising the rent as soon as possible to make it return more for you.