Your question focuses on the Borrower, but also be sure to feel comfortable with equity protection.

That provided me with a sense of understanding how much the homes are worth and a level of comfort.

I would also try to make sure I understand why the lender wasn’t comfortable with the rehab.

Although, income, employment, background, etc all need to check out too.If you are not comfortable, and do not NEED to rent it, then don't take the risk. 

Depends on what you’re comfortable with.

``````````````````````````````````````````````````````````````````````````````````````“Everything you want is just outside your comfort zone.”

It's not a bad time to buy as long as you are comfortable looking and you are doing it safely.

I'm guessing that the market won't go down that much, but having a large margin for error made me feel comfortable making the offer.

Initially I just did residential construction but after a few years when the market started to improve and I felt more comfortable running projects and working with architects I started getting into commercial rehabs.  

Offer what you're comfortable with, which should be low due to the economy we're in, and good luck!