I do direct booking through the Houfy website, taking credit card payment by Square. 

Additionally, we are approved with the Better Business Bureau (BBB).

I was fine with all these numbers.Then I met with contractors...First, I wanted to add a new bathroom and approximately 450 sq ft of additional living space.

Credit?

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

Additionally, how many calls does it typically take you to successfully close a deal using this approach?

Quote from @Daron Williams: I just invested in a tax deed here in texas it was a beautiful lot right on lake sam rayburn. i have it on the market for sale the only problem is you have to have two lots to build on.. i found the person that owns the lot to the right of me and there willing to possibly sale there lot the only problem is i dont have the money or the credit  to purchase it.