Similar sized homes sell for 600- 850k in good condition.My idea is to get a loan(suggestions on type welcome) for the renovations.

Anyone currently doing REO deals in the Los Angeles Area Would like some tips on how to get started as in the first couple steps to acquiring the property then renovations looking to Fix & hold then rent out the properties from the bank Starting with no money would it be logical to get the deals done through HML any feedback would be appreciated thanks.

renovation- floors, kitchen, painting walls and later to add a bathroom and bedroom to the bathroom What was the outcome?

renovation- floors, kitchen, painting walls and later to add a bathroom and bedroom to the bathroom What was the outcome?

Asking price was 699k we put in an offer of 608k all cash with them removing the current tenant (who does not have a lease and is not paying rent since this is a bank owned foreclosure) ARV Market rents next door: $11 sq ftARV Sale comps @ $118 sq ft Renovation cost: $155,000Taxes: Up to date

It is builder grade from the 70s and will not survive the renovation. 

Because I didn't anticipate that I'd need money, and considering I'm in the middle of renovating and want to finish fast and put it on rent, I'm pursuing both a HELOC on my current home and narrowing down a lender for the refinance.

Best bet is to find a mulit-family that needs work and live there for a year as the renovations are done, like a house hack.

What are you guys thoughts on renting out a single family house that has recently been renovated in an area where there are no other homes being rented but only purchased?

Three months to renovate?