I suspect Chris Mason who is local lender there will be able to help you no problem.. good that your jumping on it with some time to process the application.And congrats on a monster SF investment.. 300k and 1.7 value.... who needs cash flow LOL

The building was built in the 1990s and is about to undergo a monster 3 year renovation which Im sure will turn out to be 4-5 as nobody ever finishes on time.

They have robots that hand write letters its pretty cool.

High leverage produces outstanding returns in good markets, but will cause a cash hemorrhaging monster when the market turns.

He went after the houses that had bad foundation issues as the bank couldn't sell them to the regular rehabbers and flippers because they would get scared about the project.He made monster profit because he could fix for a fraction of what others would pay.One thing I didn't see mentioned is that when the house is jacked to repair the walls and ceilings along with other things can be put out of wack which is an additional cost to now fix back to normal.If buying from a bank flippers generally show ( high retail numbers) on the cost to repair which is much higher than what it will cost them to repair to get the bank to look at taking a lower offer.If the repair is substantial you might consider doing a joint venture with a foundation repair company and then split the profits.

The last thing you want is high debt, a personal guarantee, and little to know cash flow feeding a monster of a property. 

They think it will cash flow like a monster.

Hi Clinten, Welcome to BP, and into the world of REI, to give some incite on your question auctions can have huge risk if not looked into, look up "almost bought an auction property and what stopped me" there can be hidden costs, major damages/liens on the property/ problems with the titles ect. i would make sure you get the ins and outs of auction properties before going down that path i would hate to see you get into something that is a hidden monster, i did title searches on both of my sheriff sale properties before going to far in just to cover my butt. also you have to ask yourself what is your plan?  

While my husband and millions of others are talking about how they caught so many Picachu and monsters, me and my fellow investers are like "I'm under contract for this house", "I'm under contract too, closing soon"! 

I managed million dollar robotics projects before... yet this is making me nervous.. go figure.