There's a good chance that you could fix the property up and its ARV would enable you to have a 25%-30% equity position allowing you to roll the property into a portfolio loan.  

So be sure to keep that in mind if you're considering passive investing.I hope this was helpful.Good luck to everyone,Jeremy Roll

I'm assuming those two cabinets above the shower were pre-existing?

I have been looking around and trying to find a good spreadsheet so I can get my dad some numbers on how the flipping business works.I have some phenomenal sheets on rental potential properties showing cash on cash, appreciation, pre- tax and after tax benefits, and that whole lot but I am yet to find one that effectively shows numbers for flips.Any input is appreciated!! 

Where here ONE title company and escrow officer and their escrow assistant handles buyer and seller.. so they are totally on top of it and it runs frankly pretty smooth it also helps that we have state of the art title plants I get a title opinion or what we call a Pre lim in 24 to 36 hours and can get one same day if I want and I don't have to pay for them unless I close...

I just got pre-approved for my first loan to buy my first investment property!

HELOC's typically have floating rates or fixed rates for much shorter than a 30 year term.Closing with cash (or money from a HELOC) and then refinancing later (pre-or post 6 months), will result in less closing costs than closing with a loan and then refinancing later.  

When the project is completed a final appraisal is done (simply verifying the original appraisal) and that amount is the rolled over into an end loan product.

On the monthly fee I don't see paying it to advertise when there are free sites like Postlets and CL that reach far and wide.The one advantage it claims to have is that each landlord's unique renter criteria is being stored on their database so that the applicants can be "pre-approved" before the showing. 

Buyer pays their typical costs of origination, half escrow fees, pre-pairs, appraisal etc.