Get a solid home, good bones, CHA, clean and modern.

So in my opinion, it is a very slim strategy, because if your refi doesn't work, there is not that much meat on the bone for too many optional strategies. also, re-check you rental rates in that neighbor (pre AND post renovations) hope this helps. 

Thanks, numbers added up nicely and the property has really really good bones. 

Be sure to check the bones of the property.

Though the house was built in 1940, it had great bones and mostly needed design updates to bring it back to life.

The wood they used back then is better than today, so the bones are often good in these homes.

I know sometimes flippers try to focus on cosmetics and not the bones of the house at times so what do you look for if you are going to purchase a home that has been flipped?

The insurance is half the price and the home should have much better bones.

It's actually the norm that there will be multiple offers, all over list price, cash purchases are common - and "good bones" sell within a day. 

Cheap properties generally aren't going to have extensive rehabs because their isn't enough meat on the bones.