But yes, as long as you factor in the costs for the loans, and have cash for downs and rehabs... you fully can.

I went shopping for contractors as the last one was terrible and took forever.

Also don't forget to factor in the 4% transfer tax which makes your investment usually 14/24% on down payment.

@Chris MasonNot quite it as far as the CCCR comment.Appraisers use three models for value.They also factor in cost to build/replace.They can also use income.To the OP; Ask the appraiser what method(s) they used before you figure out how or if you can change their mind.

To answer your question, yes I would walk away from this one because some of the main factors you need when wholesaling is motivation and equity.

I comped houses with similar square feet and found theres enough sq feet for 2 additional bedrooms, potentially hitting the 352k range. owned the property for a little over a year, with a 50k downpayment. original loan = 333kfinanced = 281kcurrent value = 340k (according to his loan officer)Ive ran it through the usual 70-80% formulas but wanted some extra opinions/ weigh ins before i send him my offer. of course i dont want to insult him, being family and all, but he understands the convenience factor im providing.

I agree about the comments regarding Crook County so we do factor in a lower purchase price to compensate for the added timelines and costs.I'm coming to believe and will continue to test out the following: If you have a highly competent attorney, you should be able to reduce timelines and generally mitigate the risks of investing in judicial foreclosure states.

If you're talking about a FNMY or Freddie loan, then your score will be a factor.

@Matt WhittleI believe DTI is going to be the big factor.

I don't know if you're doing a fixed contract price or if you are doing a cost plus, But either way you gotta have a higher intimidation factor with these contractors and you cannot let them change the game otherwise you will continue to get run over.