Depending on location (state) there are options for 80% cash out with no seasoning as long of proof of rehab is provided.

Unfortunately, I did not verify the information provided by my agent regarding HOA restrictions and home insurance costs.

@Sehyun Lim,I’m active in both Chattanooga and Huntsville and would be happy to provide some perspective.

I may be able to provide you some helpful contacts, etc.  

I have always been passionate about creating quality homes that enhance communities and provide families with exceptional living spaces.

The bank protects you by disbursing payments to the contractor ONLY when certain milestones in the project have been reached.If you're looking to pay for the rehab out of pocket AND want to manage the project yourself, J Scott's books provide a great manual.

A fairer allocation of risk here would entail your partner signing for the loan and your providing the collateral. 

By doing so, you could redirect the funds currently spent on rent towards acquiring assets that have the potential to generate long-term wealth through appreciation and other investment returns.When considering partnering with a turnkey company, ensuring their reliability and alignment with your investment objectives is crucial.Regarding financial advisors, seeking recommendations from trusted sources can help you find professionals with expertise in real estate investments who can assist you in making informed decisions that support your financial objectives.In summary, prioritizing the acquisition of income-generating assets can play a vital role in building wealth and achieving financial security over the long term. 

Any advice you can provide would be greatly appreciated! 

The negotiation process was lengthy, taking almost a year, but our persistence and strategic approach ensured we secured the property for $294,500, setting the stage for a highly profitable transaction.