The property may be "great value" but that's because of the lack of approved additions. 

She was the main contact in terms of any additional requirements from underwriting.

Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

But for a loan in a good city to approved i think it has to have income to cover the mortgage and the expenses. 

Originally posted by @David Robertson:...Here is a recent forum discussion with some other options as well.http://www.biggerpockets.com/forums/84/topics/1610...In addition to the BP thread above, I suggest you check this other thread, as well as doing a search on the BP site for kitchen cabinets:http://www.biggerpockets.com/forums/67/topics/155268-best-source-for-kitchen-cabinets

See, when you put someones back against the wall with T&M, you're forcing them to be sure they are "safe" in that material order because they know efforts to be accurate leave a good chance of being a bit short on this n that, and either you not reimbursing, or giving em hell on why there is additional "and then" items. 

The additional approval step is an annoyance, but a 700 FICO score for a renter is very optimistic.

I am not currently planning to buy additional real estate.

My goal is to continue to grow my wholesale business and start my own flips in the near future allowing me to grow my active income.

2023 & 2024 seems to be year of challenges for investors and I did enter the world of investing during these difficult times. When interest rates are peak high I started my first investment and was able to cash fl...