We could be wrong, but it doesn't seem likely.Carini did the math for you early, if after repairs it assess for 240k as you suggest, you'll be able to refinance and pull out 187k, of which about 116k will go to paying off your previous mortgage leaving you with 71k to go plan your next move.This is very compatible with living in the house and getting roommates. 

Hello, Lee Israelsen, when you build a house and include a basement apartment that you plan to rent out, you may be able to write off a portion of the expenses associated with the construction and ongoing maintenance of the rental unit.

My initial plan was to buy homes at wholesale price, fix them and retail them through an agent.

We live near a lot of hospitals and are planning on using this money to buy small multifamily properties and renting them medium term with traveling nurses. 

Hello,I am gaining interest in the note buying business and just wondering has anyone here ever heard of Charter Financial by Leland von Syring.

New Bigger Pockets member who is looking for *serious* financial and RE guidance.

This skill is massively important for flipping RE which we plan to do in the future.

Investing in Ohio, specifically Cleveland,  is a great idea in my opinion.Recently, we have been breaking grounds on large development plans such as the Cleveland Cavalier's Perfomance Center, Blue Abyss aerospace training facility, Sherwin Williams HQ, and not to mention the multi million dollar Metro Health development that was completed recently that has just started adding rapid appreciation in the Clark-Fulton area.These projects will only increase demand and most are in the beginning phases.  

There is a small window.My plan was to either add a bulkhead entrance or create an escape window.

I have a plan and I'm not sure if I'm going to the right direction.