Always follow up and stay in touch with them. 2) Start a marketing campaign through Yellow Letters by reaching out directly to the property owners in your targeted areas. 3) Go to REI networking events to meet investors, and other professionals like GCs, property management professionals, insurance brokers and other industry professionals. 

That is not including the 1% lender origination fees. also 500 appraisal fee and then there is the settlement fee from your title company and the title insurance. so 2000k for closing seems really low.

Took a long time because I got permits for everything including the new central a/c system, plumbing, moved the electrical panel to the outside from the old laundry room, etc.

So read books on the topic, go to networking events where you can meet HML's and private lenders, reach out to friends and family, get a HELOC on your primary if you have one, get a loan from either your 401k (if you work) or from your life insurance (if you have one.)

If you would rather have rental house with 3 or 4 units, do a "House Hacker" loan that is insured by the FHA and get a 3.5% down payment loan. 

The reasoning for selling so cheap is because they had someone on a land contract who couldn't keep insurance on it and didn't pay the taxes.

What I equate completely renovated to is they replaced all plumbing, electrical, heating and air, water heater, new roof, new siding,etc.

This can cause issues with plumbing going into or out of the house.

Tyler, In regards to liability I would make sure at a minimum that your insurance is aware they have pets.

Some are automatically transferred from your Cash Flow expenses (water/sewage, insurance, property taxes) while others (electricity, HOA fees, etc) need to be added by you within the Rehab worksheet.