You do that because that 35% includes the cash buyer's profit on rehabbing it along with holding costs and other things.

Rehab, Holding, and Closing Costs on the purchase: Roughly $9,000 of my own cash investedListed: $116,900 - Full price offer after 1 DOM. 

An appraisal can be done "subject to" and you can even hold out funds at closing made directly payable to ABC Roofing, etc. so that you don't have to dig into your pocket again.

My end goal is centered around buy-and-hold, but I'm afraid this one may be a long term liability.  

Have been doing some initial research into Multi-family, buy-and-hold, (>,=2 units) in the Chicagoland area (mainly western suburbs, Brookfield, LaGrange, Downers Grove, Wheaton, and the like) and found some units with potential.Here's my current question:I've found a property that I believe has some potential.

I'm looking to start investing in pueblo Multi family homes for buy and hold rental income. 

Mostly interested in the buy and hold for now, but we'll see where the journey goes.For those that invest in NWI--what do you think?  

Hi Ramar,  I purchase and rehab properties for flips as well as buy/hold for many years.

It unlikely calls for a closing/sale without substantial completion, and the bank shouldn't have an issue with funding with a typical "punch list",  perhaps holding back a few grand.  

My question is, when you find something like this, and you don't have the funding ability(I work at a school and have TRS not a 401k, so I cannot take a loan out against it, nor do I have 20% down, but I have about 60k in equity in my home, but the lenders I have talked to will not do a HELOC in my state, point is I can flip, but not buy and hold with my own financing) and you need a partner on the deal, how do you protect yourself from telling them about the property and them just taking it?