If they are professional, they can explain this quickly and easily.

Thanks, @Chris Seveney, I have done that to some extent, but while I was working on my property analysis spreadsheet, I noticed the somewhat large discrepancies in my various CapEx calculations (based on the standard formulas) and became interested in finding a formula that I could use easily (back-of-the-napkin), without itemizing and predicting expenses, and that would work even in cases where the gap between ARV and Current Property Value are rather wide.

Take good care of buyer and they might provide good word of mouth, and on the website of the company have links to our current listings so if people Google the company name after word of mouth they’ll easily find what we have to offer.This plan is not about making the cheapest builder grade home possible to sell to buyers and milking the most money out of them.

Because later, you can easily use it as your mailing list!

Call me nuts but i could easily see with some creativity turning this into a 2 unit apt due to the lay out and would cashflow like crazy in this scenario.  

A good agent will very likely get you a better deal with better terms and more oversight than you can get yourself especially as a 1st time investor, I will often see things about a property either in the property itself or the listing that would easily get missed by a 1st time buyer, eventually the more deals you do the less you may need an agent, but your 1st few it’s important imo.

As to the exact underwriting guidelines with a log cabin I am not sure but an agent quoting your property will easily be able to figure that out.

Using a mortgage calculator, you can easily compare your current mortgage to a 30 year mortgage at the current rates to have an estimate prior to getting the info from your mortgage broker.  

It’s definitely worth considering if you want to scale your real estate portfolio quickly and easily.

You could easily be looking at a total of $10k-$15k in total closing costs on a deal this size.So now, you have $18k in and you spent your first $10k in rehab.