That'll require you to determine how much the rehab will cost and pay that up front.

Advice NeededTLDR - Spend an additional $30k now to upgrade the sewer system on-site while the contractor is already mobilized or go with a sewer injection pump which is likely a viable solution the will last for years with proper maintenance. 

Most hard money works like this Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV)100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

“Broker” is a legal term that often requires standardized coursework and a state license.

Many lenders are requiring longer seasoning requirements, will ask for a second appraisal, and will cut value if the comps on the appraisal do not support the value of the property.

so little update, we're working with my broker/underwriter to find out if having the current tenant sign a new lease with my wife's name added to it would satisfy the requirement, (our side only requires a signed lease because it's a "new rental" so perhaps the other side would be "new" to my wife.

however for one living in CA I do like Vegas personally ( I have invested there) as I have invested in over 20 states.. what I like about Vegas is the age of the homes you would buy at 500 to 1 mil.. no really nasty weather that adds to differed maintenance..

If you find Plano’s current market conditions don’t meet your cash flow requirements, consider looking for properties that need minor rehabs.

Same thing here but with real estate instead of companies.It's not talked about nearly enough by real estate investors, because it requires analysis way beyond the "buy low and sell high" that everyone initially thinks about.

But you also have to pay for taxes, insurance, and maintenance (generally 10% of the monthly rent).