. -  Low-income neighborhood (lots of section 8 tenants)- Very close to hospital and nearby highschool.

Hi friends, I am about to close a loan with MINO Lending Solutions.Has anyone received funding from them and can give me some feedback on them?

That being said I would prefer to buy the larger properties (to a certain size, do not have the funding to go bigger than 8 units or so).

Since construction loans fund their draws  based on completed  work, having the additional capital to advance the construction progress is helpful.

Some people like messing with all that, but to me the return is pretty low and the headaches high. 

He is taking on other jobs because his pricing is too low.

@Bryan Schmidt It sounds like you will need a construction loan to fund the improvements even if the seller were to offer you a second position mortgage for 20-30% of the purchase price.

Typically its 80% of the total cost of the project or even 20% down of purchase price, funding 100% of your rehab.

Do you plan to self fund or hardmoney/etc? 

If you're buying in cheap/rough areas then you're likely going to be getting market rate tenants who, for whatever reason (but usually something in their criminal or rental background) can't rent in better areas and can't qualify for vouchers.Nothing wrong with being a low-income housing provider as an RE strategy, just don't assume that subsidized tenants will be flocking to your units.Good luck!