I have EXCELLENT credit (almost 800) and am a business owner that showing a nice income on my tax returns.

So the basic financials are $281,900 purchase price, $100,000 rehab cost, then when this is complete the income of the property would be $850 and no utility expenses.I am planning on using the BRRR strategy for this property.My wife and my personal finances is I have $14000 in savings, $600 in another account and I have a line of credit of $40,000 with and interest rate of 7.8%.I have not exactly officially offered this $281,900 but I want to but before that I want to hear any opinions and things I may not have thought of.

Use something like https://latchel.com/ and have a backup who can authorize work, maybe leave that same person a credit card (assuming they are trustworthy, like say someone you'd give power of attorney to).

Might need to have someone co-sign with you if you haven't built much credit yet. 

I was thinking of doing 2,200 and if the party pays on time then I will do a $200 credit towards the purchase... 

If so you have lots of options with your local banks and credit unions.

What your financial situation/credit score looks like 3.

Basically, the insurance in “to protect the bank in case I default “ even though my credit is 800 and I haven’t missed any payments to creditors in years!

@Jupshy JasminI use them for maintenance request late, fees documents , gives tenants an opportunity to get there rent reported to the credit bureaus.

The best HELOC i have found on rentals is with Pen Fed Credit Union.