I tried getting my bank to run 30 amort also.

The first three local banks I spoke to either only finance based on purchase and renovation cost or have a 2 year seasoning requirement to refinance on appraisal.Does anyone have a recommendation for a specific credit union or bank that refinances commercial loans based on ARV off the bat, or with a 6 month seasoning?

Going thru a bank/hard money lender to buy a dog to fix up imo is TOO EASY to do, Challenge yourself!

Think $400k, and you'll need to get a community bank on board with 75% leverage (which is actually aggressive for most community banks), and 25 year amortization.

You should view your risks from the standpoint of a bank. 

The houses have a retail market value of approx 55-65k.I have offered them up to 45k which is my best offer with a bank financing scenario and they are uninterested.  

I don't even remove my listing from online until I have a signed lease, and their funds have cleared my bank account.

- If banks and majority of hard money lenders wont provide initial draw until after work starts how are you financing rehab work on properties post closing?

I've been considering Texas.I understand that networking with lenders, real estate agents, property managers, and local banks is a must in order to get started.

The key is to work with someone who can come up with a strategic plan to target the correct banks and lenders based on our specific situation and goals instead throwing applications at a wall and hoping for the best.