This is what I think the numbers will look likePurchase Price - $20kRehab - $60-70k ($27k is fixing the front of the home)ARV - $90kRent in this area goes for $750 - $900/monthIt's an older home.  

The challenge is, FHA requires a 90 day seasoning on the title.  

I've still been able to stay in contact with tenant and he informed me that he had moved from Michigan to Alaska to do offshore fishing for a season before returning.

If it is vacant for 3 months rehab and refinance in month 4 (Usually have to season 6 months) = 3 months no income / 4 months to refinance = 75% vacancy.

They want to see cash "seasoned" in a bank account (checking/savings) for so many months.They can also get antsy if someone else is giving you some/all the money for the down payment. 

The apartments are 2 Bed, 1 bath and bring in anywhere from $2k-6k/mo each depending on long-term/short-term rental and season. 

After 1 year seasoning (plus appreciation), ARV approx. $380. 

I know this is an older post but I wanted say a few things...Yes- there is an actual town called Niceville....it is wonderful.I am a real estate agent here and former financial planner turned investor after realizing that 7-8% on a good year was not enough in the stock market.Let me know if you haven't found a favorite- perhaps we can help each other.

@Bryce LeeI wish we could, unfortunately it’s an older house with all origional wood floors, and a simple layout.

I started working for this gentleman as a 1099 employee he didn’t pay me for the first three weeks on a commercial jobFinally on my fourth week he paid me for three weeks and held a week that’s cool whatever it’s normal then the following week he only paid me for two days then the following week on Thursday I walked off the job because all of his other employees kept quitting I worked there for six weeks and 10 guys were there so I was overworked underpaid if paid at all so I walked off the job like I said he texted me saying he’s not paying me because I screwed him over what should I do how do I do a merchant lien do I give him the notice of lien(my boss Which is the sub of the sub of the general contractor) And if they don’t pay me within 15 days or so then I file the lien