Discussing options with my wife, we are looking to take ownership of the house, make some much-needed repairs, and getting it rented out.

This ensures you have a clear picture of what repairs are needed and helps avoid surprises during the rehab.

@Lake Lutes is in your neck of the woods and can assist you with identifying rental properties.

The entire teachings had gone from Nickersons conservative but a cash flowing small residential property, hopefully for 10 -15% below market, do immediate repairs, then slowly over time improve the property and raise rents, either refi cash out or trade tax free for a larger property.

If we rent the unit at $1,425, I have an estimated monthly cashflow of $302 (rent at $1450, cashflow is $325) I DO include vacancy, repairs, and cap exp in my Box2 Expenses.

Take the time to break down what needs to be repaired and what upgrades you will be doing.

Do you offer 80% LTV on the full appraised value or is it limited to purchase price + repairs completed? 

The study could also identify the opportunity to capture additional benefits such as dispositions, and repair and maintenance expenditures.

Hopefully assistant coach to Popovich lol and yes he does. he is already set up extremely well, I am trying to catch up

With my own portfolio I generally underwrite with 10% for repairs, 10% for cap ex, 5 percent for vacancy.