It appears you're using a PM, so I think your NOI estimate is high by about $110 a month.

If you're using a HML you're not making an all cash offer.

I worked the system the best I could and renovated the property myself using a 203k and paying a contractor friend a fee to use his companies licence to get through the red tape.

Thanks for your opinion on the value of purchasing while using a Homepath Reno mortgage.

I'm looking at purchasing properties in most of the smart places to own while I'm there, live in them, and then rent them out after I leave using a decent property management company.

Kerry, I believe if it is a 2-4 property, FHA would only do 75% if your son needs you as non-occupant co-signer, much more (I think it's the 97% but could be less on a refi) if it's a single family home using a non-occupant co-signer, so looking for higher percentage of loan is probably going to be difficult no matter which one you choose.

The buyers will be using a VA loan.

For a simple SFR flip, a one-off deal is probably best done using a note and deed of trust structured as debt, either a straight note or participating debt (interest plus a % of the upside).

I'm using a wholesaler who is organizing all the repairs for me through an external contractor as I'm located offshore.This may be a stupid question but how do I check references on the contractor?

I personally rather just be a real estate investor and not a landlord (by using a property manager.)