His numbers I was basically able to take utilities as he was in constant remodel mode I decided to use estimates for repairs/capex.So I did a quick walked thru the property on a Thursday.

I need a roofer in the Raleigh area for repair. 

Probably not likely unless you have a lot of cash in that checking account.From experience with my business (not real estate) no lender will entertain a line of credit without substantial cash reserves or very strong history to show.Probably better off trying to open a bunch of credit cards at the same time and use those for the repairs.

I am interested in buying flooded homes during Harvey but my agents keep on sending me homes that are flooded and it seems like after repair I am paying 90% of the ARV.

So far I have 1099, Advertising & Marketing, bank charges & Fees, Capital Expenses (for remodels) Car & Truck, Contractor, depreciation, donations, Employee benefits, insurance, interest paid, inventory assets, job supplies, legal &professional services, loans/points, meals & entertainment, office expenses, Rent & lease, repairs & maintenance, salaries & wages, taxes & licenses travel, utilities.

You need to set aside an amount to cover future major repair/replacement.  

Here is the code: "At the mutual inspection, a comprehensive listing of ascertainable physical damage, along with a repair cost estimate for each item, should be reduced to writing and signed by both parties.

He's aware of any repairs and update that need to be made. 

This leads me to BiggerPockets and learning about low and no money down and the BRRRR technique.

My first house will be done soon and it was minor repairs so did not have a problem finding anyone to do the work.