I am a finance professional currently, so I bring that mindset to the table, as well as a good eye, a passion for property improvement, and some funds.  

Chances are the ability to get the funds out to do the next deal and capitalize a bit more is probably better for our goals in the long run. 

My concerns would include 1) crime, 2) proximity of other buildings you don't control, 3) (local) apartment supply analysis, 4) scope of capital requirements, 5) rehab grants/funding, if any, available 6) loss run report @Patrick Madigan I am in the Fuquay area for about a week and would take you up on visiting the property if this Friday or Monday next week....

We plan on listing it for sale in January 2017 again but he keeps stating his desire to purchase.

The only way your should consider this is a direct payment to the IRS from the proceeds after funding

Hi guys,I'm looking into a first home purchase in the next few months and owning out of state rental properties using funds from overseas.

I have less than perfect credit and pretty much no cash to put into the deal with a hard money/private lender/crowd funding.  

How should I get the funds for renovations if I want to do owner financing?  

This means $1k a month will start going into my savings for my next investment.ARV=140K-150K75%=105KOffer=95K /30yr / 4% Interest raterepairs/build-out approx=10Klets say if sold in 2 years approx profit would be 20k-30KI will also be able to keep more of my personal income cashflow of approx 1K a monthafter the build-out and tenant is placed in.and that goes into savings that in approx 2 years will total around 12K to 24K a portion of that savings will build the ER funds to maintain the property.lets say also if halfway through it I decide to move out and rent the otheradditional 3 bedrooms this will grow a monthly cashflow of $1,600making the property cashflow approx 1.5K monthlywith this process I probably do a refi after 2.5years and utilizeit as a tool to continue future purchases.

I am trying to figure out the steps in which to take in regards to purchasing my first rental home, and I have a stumbling block.My question is, I am going to be using a hard money lender to fund a majority of the property (approximately 75%-80%) then do a cash out refinance at the end of the term into a 30 year conventional note.