He gave me a great deal for $4500 (3 coat stucco including material on a 1200 sq ft ranch home) Everything went well until he had to do the second coat.

I thought it would be better as far as training and material.

You provide cable internet and utilities they pay one check for living you collect 2-4 times the rental income.

However, I know it has a lot of superfluous material on it.

You could also do a second on another property, or several others.I'd suggest too that you start looking at a blanket mortgage on several properties (with a release fee on each) and begin consolidating the debt to free you up for financing.Creative financing is utilizing the assets you have to leverage a deal within the boundaries of conventional requirements, the rules and regs, not getting wild with schemes. :)

Houses in this price range also allow you to better utilize the limited number of fixed-rate Fannie Mae loans you can obtain.

He paid for all things, utilities, cable, garbage, water sewer, internet, maid service, lawn care.

The HML will want some skin, plus you'll likely need cash to cover the first round of rehab, pay interest during the loan term, maybe pay points up front, cover utilities and insurance until the property is sold, and possibly cover rehab cost overruns.

And until I get a home, I'm paying 650 a month for all living expenses (housing, food, internet, utilities).

. - I can't fathom a contractor being willing to do this, fronting all the materials and labor and hoping/praying that the deal closes.