The buyer must come up with the difference between the seller(s) current mortgage balance and agreed upon sales price, plus closings costs. 

If you refinance the property now the loan would be $100K at 20% down and $80K would have gone to repay the original loan.First, if these are your numbers for rehab cost and after repair value, it is probably not a good deal to begin with and you shouldn't be doing it.

(Sales price minus selling costs minus purchase price.) plus maybe 10% in state taxes. 

The rationale being you are reducing your personal housing costs as the rented unit will be covering some of the costs. 

But it's costly, currently I am in the process of setting up ReiReply Power Dialer.

@Connor GoldenInvesting in mid-term homes means you look at what people need, how much they'll pay, how often it's rented, how much homes cost, and what's trending.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

His cost basis at that time plus any extra amount he spent would be his new cost basis.

Depending on the deal's profitability, some will only require you to bring 10% + closing costs to the closing table.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!