Buy - Rehab - Rent - that has been the bulk of the work.

It is a older non rehab property but things are straight and roof, plumbing, electrical are all in good working order.

From the numbers perspective it seems like it can pencil out depending on the rehab budget. 

Buyers don’t care if you shelled out more on the rehab, if you’re priced too high, you’ll end up sitting on the market way longer than you want, driving up holding costs.Lastly if your buying on market, REO or Corporate sellers are dominating and not as willing to negotiate as owners would.

Most of us will look at the ARV, and give rehab funds in draws.

You can wargame scenarios to decide what you think is best.On the other hand, that is a pretty sizeable rehab budget. 

However if you need help with rehabs and contractors it doesn't sound like this would help you one bit.

At $800/month, that would barely pay for the rehab costs (using BP's 1% rule). 

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

The $20K rehab we funded with income from our W2.