We found 3 of the Flips just mentioned pre-market by word-of-mouth & still paid a little too much, but the last purchase/sale made up for that. 

I agree with the rest..... this is a business..... the bank is going to want their $$.... the insurance company will still expect to get paid....and the state will want their taxes....so you should still expect to get paid.

Since each asset is appraised individually in the beginning, the bank just takes off what I've paid from the original amount.  

We will be putting 20% down, monthly payment will be $3,000/mo and the remainder paid at the end of 5 years. 

Also, they are usually very conservative on refi appraisals and if the value they come up with is a lot higher than they see I paid they will usually call me and ask what kind of improvements I made to the property.If you sell it on the other hand and get a contract at a much higher price due to the higher rents they probably will appraise it much higher to get to the contract price.Makes no sense to me personally, value should be value regardless of why they are appraising it.

I agree with Mike Wright most people want it paid in full as soon as possible.

Most of what we worked in Phoenix was vacants and pre-foreclosures.

Is the contractor paid after work is completed?

Most of what we worked in Phoenix was vacants and pre-foreclosures.

My agent indicated that a pre-qual needs to be submitted with an offer.Fairly certain that hard money is my best (if not only) play for this deal, taking into considering my income, cash on hand, and the opportunity to close fast.