The first has to do with inspecting the house to find out the needed repairs.

Greg it will depend on the portfolio of the bank and how many performing versus non - performing assets on the books.The bank might not want to refi that type of product with too much of that type of asset class non-performing on the books already.They might have too much defaulted commercial all together.For value add plays typically occupancy is an issue.The lenders will want certain occupancy levels obtained for at least 3 months depending on loan type and typically stabilized for 6 months to a year or longer.If you buy an apartment building at say 50% occupancy using a hard money lender or private money and the going vacancy rate is an average of 10% then the lender wants 90% occupancy averaged out over time.When you refi you will only be able to go up to a certain percentage to cash out or can just convert with no cash out to the lower interest rate.Regular banks do not lend usually on sub par occupancy levels for the area.They see it as too risky and the say 60% occupancy can quickly go to 30 or 40% and they have a foreclosure or short sale on their hands taking a loss,plus inspection reports,attorney fees,appraisal and environmental review etc.

As per their website, they provide a list of properties with up to 60% LTV backed with appraisal, inspection and comps for the investor to choose.

No state income taxes, vehicle inspection and CHEAP insurance rates for autos and medical.

I’m even closer to or in the war zone though.

You need all contact info for all on title.Did your buyers do inspections up front?

So if you need to back out during the inspection period due to some severe issue, will that listing agent refuse to deal with you in the future?

Thanks Jamie, The good thing that came out of this whole experience is it brought me closer to my relationship with the Lord which was not the case when i lived in Chicago as everything was comfortable and working out so well for me.Sometimes you just need to get rocked and humbled.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!

We haven't even inspected the property yet so i really need to analyze this deal, but like i said i am very new.