We have no debt on this property, but need advice on the best way to finance the rehab and also tips on contractors, materials, contracts etc.....

If you can, try to get contractor invoices paid.

Below is what I input:This is for a place on Haiku Road, Kaneohe, HI, 96744 Total Gross Rent - $22,500 (estimated based on Craigslist places in same area)Other monthly income - 0Fixed Landlord Expenses: Electric - 0 (assuming renter would pay for it)Water and Sewer - 0 (assuming renter pays it)PMI - 0Garbage- 0HOAs - 0 (assuming renter pays it?)

2) How about electricity?

In addition it's a good idea to have a stronghold in an area with local builders, handymen and contractors to get quality work done and on budget.

The last house (3unit) I purchased I went back asking for $8K for repairs (sewer stack replacement, electrical updates, boiler fixes, etc).

@Jason Carter Any reliable/reasonable contractors you can recommend in Birmingham?

I guess contractors and folks like us are snapping them up to rehab over winter.Let me know if I can help in any way.

How many times can you do that with a contractor before it becomes exhaustive on the investors part?

In an attempt to encourage and support other first time investors out there I have outlined a few of my team members that are currently under contract or recently purchased their first investment property within the last year.