The refi loan type is based in part on how you hold the property (in your own name, an LLC, etc) but in general you can expect to refinance out about 75% of the ARV (After Repair Value).

At that point I’ll pay back my 401k loan, pay the seller and save the rest for repairs.I’m beyond excited because it’s been my dream to get into the real estate game.

Hi Jane, I am an out of state investor based in Northern Virginia and primarily buy Multi family and Single Family Homes in Cleveland.

Maybe keep the bases and have them refaced?  

Someone could purchase at 600k, make a very safe annual 6% ROI (and escalator above that every year) plus have the base property appreciating at the same time for resale later. 

The painter does exceptional work, but the price is a little higher than I expected.My appraisal was only for the interior, but the painter said that we could discuss painting the exterior based on my budget.

Areas like Newnan, LaGrange, Carrollton are fair game and solid markets from a demographics and price to rent stand point.

Hi @Somesh I am a US lender based in Toronto, feel free to reach out with any question regarding financing/US entity formation or accounting services.

It will depend on the situation, but if you are willing to drop under 75% it can be a game changer. 

So they need to be real estate focused or at least well educated in the "game" our government has setup for professional real estate investors.