@Sarah MillerWith out knowing a whole lot about your situation I'd recommend holding off until you can build up reserves for another down payment.

One of the units is a 3 bed but to be safe ill just keep it at the 2 bed price Here are the #'sPurchase price = $85,000   Down payment (25%) = $21,250  Rehab = $25,000  Closing = 3000  ARV= 115,000 - 125,000 out of pocket expenses = $49,250Total investment = $113,000Gross monthly income = $1,940Monthly expenses:  Utilities = 400   Vacancy (10%) = 194   Insurance = 100   Property tax = 167   Maintenance = 200  Maintenance reserves = 200  Management (myself) = 100   Principle & interest = 328Total monthly expenses = $1,689Monthly Cashflow = 1940 - 1689 = $251Annual gross income = $23,280   Annual expenses = $20,268   Annual cashflow = $3,012Cash on cash return = 3012 divided by 49250 = 0.061 = 6.1%ROI = 3012 divided by 113,000 = 0.027 = 2.7%Using the 50% rule this works 1940 / 2 = $970 - P&I $328 = $642Using the 2% rule this works 1940 / 85,000 = 2.3 % or would i use 1940 / 113,000 which almost meets the 2% rule at 1.7 %Thanks Guys!

Looking for some of your experiences with Homesearch.com and being the highest bidder with the reserve not met.  

Planning to start with wholesaling, and once I have some cash reserves saved up, start keeping the good ones for rehabbing myself.

After registering, properties are inspected every 10-ish years confirm they meet basic maintenance and safety standards. 

Keep some reserves, in case it takes longer for you to rent out the other unit.Please remove most emotions when you want to be a landlord.

Is there a trick to confirming the basic data, so you can decide whether to pay of title searches and a BPO?

Make sure the condo has enough in reserves to not need a special assessment for items like new roof, siding, parking lot repair, pool house, etc.  

I think it depends on what type if investor you want to be. if you enjoy wholesaling I would continue to do that and build more reserves.

My credit score itself is excellent, and everything else, job history, income, reserves etc are A+, but because the history is so limited, the underwriters are unwilling to book my refinance loan at the moment.