It's been known to happen ;-) Build a spreadsheet first on the entire transaction, buying, rehab, selling start to finish and add all costs.

Final sales price on a closed transaction is.Recent: Ideally less than 3 months old, go to six if you must, go to 12 months if you absolutely must (but in this case you need to SERIOUSLY question market demand for this type of home if no one in the last year has bought a similar home... guess how many outdoor swimming pool comps I'd find in Fairbanks, Alaska?)

I have already bought a LLC, started sending out yellow letters, putting out bandit signs, cold calling & social media marketing.

Parents sign the rental agreement since its 10 minute walk to Penn St.

Or find sold short sales, reo's, etc and see who is handling those type of transactions. 

I use Cozy and upload documents like this along with the signed lease.

.,  I'm seeing all the signs saying "get out of Dodge". 

Being honest is a sign of having changed.

Hi Patrick, A few things to think about:You'll need to find a property management company who will manage any deal that you buyYou'll need to meet the net worth and liquidity requirements to qualify for a loan You'll likely need someone with experience to also sign on the loanTypical structure between the LP and GP is a preferred return  and a 50/50 to 70/30 profit splitYou can have up to 35 non-accredited, sophisticated investors with a 506(b) offering, as long as you have a pre-existing relationshipAlso, do you have previous real estate experience?

What if I approve their application and they fail to sign the lease?