Given the size of the deal anything you may be missing that I pointed out above is pretty small in comparison, but I'd still be as accurate as possible.

The house 3/1 bath and is 1060 finished and 900 sq ft unfinished 37,000 lot size. the house is pretty old and needs undating. he is asking 1.5 million.

But I will say that on a project this size you may have a hard time getting your contractors to bid this way when they don't even know if they will land the project.

I had 3 full size dumpster loads of trash on this house, with 2 of them being $150~ over weight limit.

Don't think there are many in the area of this size/unit mix.

Always increase the size of your "box".2 - Build a Power Team.  

@Brian Mathews , I'm also a fan of fixing up a property and then using a cash out refi to pay for the next property, or down payment on the next, depending on the size of the next project. 

If self-managing, how long or until you get to what size? 

While there is a reliance on 'welfare' or entitlement still exists (to a large degree), I wouldn't discount the area as a whole as it seemingly has done better than the 'hot' markets during the downturn...I do understand Syracuse (and Buffalo) aren't doing as well as Rochester overall but I think even Syracuse has ranked high on the rent to returns chart, probably due to the welfare nature as well. 

It will only be to secure properties (paper) and then either buyers for a quick profit or our investment partners (which we've already secured) at 1 - 3% interest per month plus closing costs depending on the type of loan needed for a rehab...Transitional Funding - small closing costs plus 3%Cosmetic Rehabs - moderate closing costs plus 3% and 80% load to valueMajor Rehabs - small closing costs plus 1 - 3% depending on size of loan and 80% loan to valueOr a cash out refi against non-owner occupied property owned free and clear up to 50% loan to value.So you can see, we have some things in place and ready to get our first property under contract (the right property) and either wholesale it or rehab it depending on location and whether we want to rehab it or not.