Unless your low balling and getting out bid everytime that's another total time waster..Agents that make money learn to week these type of buyers out as non productive let them abuse someone else..

@Rob HalpertThe ARV is based on finding comps for homes that are in the expected final condition, or similar to the quality of the final rehab product.

I would go architectural shingles as it is a much better product, for a moderate price increase.

@Jem JacalaI believe AnnualCreditReport is a consumer product designed to let someone pull their own credit, not others.

It is relatively cheap and considered a good product. 

Most traditional lenders don't offer this type of product.

I wanted to know if you think the MLS is the best way to find deals nowadays or if you would recommend that newbies look on craigslist or For Sale Buyer Owner (FSBOs)?

Link below has the general terms, and your rates, loan terms and  LTV's will be MUCH better that hard money.http://www.freddiemac.com/multifamily/product/pdf/...They will lend nationwide.

The valuation of the property will be based more on income production if it is 5 or more units and valued more like a SFR if it is 4 units or less.Are you planning on using a bank in Iowa? 

Some of the new engineered and laminate products can be very good; but to me there's a real quality difference.