So far we have not had a tenant, that is established - more than a couple months in the unit, not be able to meet their rent commitment using this criteria.We have some tenants in our C area that would not have qualified if we used 3X. 

@Anthony Nguyen, I am brand new to the idea of fix and flip and am looking to do my 1st one ever (ie - still looking for a house to fix). 

So while I can't speak as to how their month to month operation is, I can say I was extremely impressed with how quickly they place a tenant, and they were able to get a lease signed for a couple hundred more per month than I thought!

City didn't help us when they places the homeless shelter couple of blocks away.

Not the ideal way to do business with a private lender, but we had a blanket agreement in writing that he was lending us money at set rate period for the time we held the property.Some option for funding when buying at a foreclosure auction:1) Your own cash is fast.2) Set up a line of credit with a bank using other collateral, maybe you own a couple of rental houses with equity that you could use as collateral. 

This is because my job pays good and have couple several salary increases scheduled.

There are numerous ways to find them, you just need to find a couple you're willing to try.Good luck.

Also a brand new, massive hospital just opened up in Chitre earlier this year.

Hey!I know a lot of newer investors come on here looking for information on how to get started. We are in the middle of our 1st/2nd deal right now and thought we would open ourselves up to questions and comments while...

Run a couple scenarios, and if knocking down the house and rebuilding is the most profitable (with an acceptable level of risk), go for it.As for knocking it down yourself, if you have to ask, you probably shouldn't