, rehabbed (I'll bet $20k for rehab is high, with the right "mobile home rehabbers involved"), and roll all that into a new loan .

I'd expect something closer to $30/month.If your rent and reno numbers are good, and this isn't in a war zone, I bet you can cash flow $300+/month.

This might require some extra work, but ultimately people feel more independent now with all the information out on the internet.

Your best bet would be to find a private lender to partner with you on the first deal. 

At those prices, I bet your market is seeing some decent appreciation.

@Cheryl Foster @Provi Hall It is a bit difficult to get good internet advice on getting an FHA renovation loan for an investment property.

This is pretty local, though.I bet you can get a much better rate than 5%.Your missing management.

If this dude can't complete your projects....you definitely aren't collecting from him if you somehow won the case.Then you'll be out even more time and money...Forgot to add, you're most likely bet and efficient use of time is to file a complaint the license board for the state..and if you're using an unlicensed contractor well you really have no plausible recourse through legal channels.

Many portfolio programs start at 100k loan amount, so waiting the 6 months seasoning period to use the higher value is probably your best bet.

I agree that my best bet is to get an agent to assist me with the property.