Doesn't help that it's tax season so the responses have been extremely slow.

I have not banks say they won't lend on them, but most of them are tightening up on the LTV and increasing the seasoning period.  

Once the rehab is done, you would refinance out with a direct to Fannie Mae lender (no seasoning required).  

A less seasoned landlord might pay $200-225 but not $250k unless they're just cash rich and are desperate for something to roll their money into for tax reasons.

Secondly, unless you are very seasoned, go with an inspection in my state it runs anywhere from $250-$350 depending on single vs multi.

@Brooks Everline take a look on NARPM.org for professional seasoned property managers.

If he does it right, he might even have enough equity to buy a third property.I am not a fan of HELOCs as I think we are in an season of raising rates.A large house is a lousy rental property.

I have thought about shadowing seasoned investors also.

You should always use a seasoned mortgage broker who will find you a lender that is right for your situation.

Some would call me a seasoned investor.