It's completely renovated top to bottom and has roughly $200K in the renovation.

These cities are not only close to the airport but also benefit from ongoing development projects and a growing demand for rental accommodations.

If some need more time you could begin renovations on some of the units while still collecting rent on the others.You could even ask for higher rent in exchange for anyone needing more time.

You can also hold money for maintenance, capex, taxes, insurance, or other projected expenses.

First deal I found- Asking Price $450K needed $175K in rehab, it was bought and sold for $1.1M when it was renovated, he says they don't do 'whales', OK so I didn't make the $475K because he doesn't do 'whales'.

I have experience working for general contractors as a project manager however I am not sure how much that will translate into the real estate investing side. 

I understand there is no “right” way to do it but my plan was to get hard money for the purchase of the property and use a heloc for the renovations.

A seller might want a longer term to further spread their capital gains, while a buyer wants enough time to renovate, stabilize, and refinance the property.

Although it varies between hard money lenders, expect to pay something along the lines of between 10-25% of purchase price, and they will usually fund something like 100% of renovations up to 75% ARV (rest would come out of pocket).

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