The answer an appraiser is uniquely qualified to provide is: are the comps available to support your deal if your buyer needs bank financing?

Five bedroom barely registers.Plus something unique/value or cool from renter perspective.

@Wayne Brooks I'm hoping to use a combination of HML for purchase costs and my own money/investor money for rehab.The pre-approval isn't for a broker etc, it is for me to be able to know for sure I can get a purchase funded before I form an LLC with my contractor.

That's any combination of sale price + renovation cost. $700/month in rent, I set aside $300/month for insurance, taxes, maintenance, net out $400/month.

I never claimed there was a big deal, but it is a unique situation we had never anticipated.

If your bank can do this, and provide unique ledger entries for deposits from each card type (i.e.

We had more showings this week than the previous 4 months combined.

The combination of money from your HELOC and a hard money lender might indeed allow you to buy the house and rehab it with little out of pocket.

It combines the first 2 steps, but you can make ALOT more since you are now finding the deal, marketing it, finding a buyer, then closing on the property yourself.

Even so, it doesn't relieve the borrower from meeting the obligation or the ability to pay in combination with the factors mentioned above.The term of the transaction can be a factor as well, a seller financed note that is of a short duration, less than a year for example, should be under less risk considerations if there is no other risk activity, like construction.