In NC, the easiest way to accomplish what you are looking to accomplish is to have a long enough DD period to cover your ability to vet your concerns.

During this time, the markets have been pretty favorable and probably have covered up mistakes that would eliminate (or created negative) returns in a down or flat market.Really depends on the investor.

The borrower and the asset itself.Borrower:Your credit (are you a trustworthy borrower), are you capitalized enough to float this project/ cover the debt, track record (borrower/ contractors experience).Asset:Comps (as-is & ARV), LTV metrics (lender can help verify these if you have questions), detailed budget and scope of work, tentative schedule, exit strategy.Of course any lender/ partner will dive in a little deeper after the initial pitch but if you have all of the above ready for your initial conversation it will go a long way in getting deals approved/ partners on board.

This would be an owner occupied home which I would rent out the bottom floor for $1,750+, leaving me to cover the rest of the mortgage between $1,500 - $2,000.

In addition, if the tenants moved out, you will have to put up a hefty amount to cover your expenses while re-rent it. 

Essentially this would also put the $145k (more or less) in my pocket to re-invest and make money on elsewhere, while the rent would/should cover the monthly mortgage payment, property taxes and other (minor) maintenance.  

I know that might be a large area to cover but looking for a general idea of what phase the market is in.

Ideas for Cinder Block WallsHas anyone done anything creative to cover cinder block walls on the interior?

You could likely cover your monthly costs once you get a renter in there.

Student Rental (4BR/1Ba) - $90,000 List PriceOffer: $80,000 purchase price, 3% seller paid closing costs, 20% conventional financingCash Outlay: $20,000 ($16,000 down payment, $4,000 rehab)Rent: $1,240/mth Mortgage Payment (P&I): $344/mth ($64,000 @ 5% interest, 30 year am)Taxes: $133/mthInsurance: $150/mth Vacancy: $112/mth (9% - playing this conservatively)Maintenance: $75/mthCapEx: $125/mthManagement: $149/mth (~12% rents collected, conservatively assuming full occupancy)Utilities: N/A (covered by tenants)I like this deal for a couple of reasons.