The loan is $130,000 with repairs and the ARV is $208,000.

The appliance repair guy I wanted to use for the repair told me he would charge $125 for labor if I'm able to find the part.  

I already know there is damage on one side that needs repair and am willing to forego charging the tenants for damages if they vacate by the 20 days with no further damage from the time of the inspection.

Many times, they will tell you they will do a loan to a certain percentage (first time renovators are generally at 80% of the purchase price and 100% of the renovation) and the loan cannot exceed 65-75% of the after repair value or ARV. 

The following home is in an awesome location, built in 2015, and is not in need of any repair (it's basically new condition, so I left the "after repair value" the same as the purchase price).

., you'll have to deal with expensive repairs while hoping your home's appreciation will come out positive.If the market corrects and you have to hold on to the property longer, you could be losing money from having to handle repairs while you wait for the home price to go up.Forced appreciation through rehab is your way to minimize these unexpected costs, not speculative appreciation.

Here's the breakdown for those who are wondering;House purchased at 140k with 20% down (28k)Rehab/Repair costs:  $3100 of my own cash, $2100  (paid to me at closing) to the painter from sellers for the remainder of the exterior paint job  PITI Payment:  $861.00Rent: $1570.00What does everyone think for my first investment? 

My husband and I have been running a heating and AC biz for over 3 years now, we do it all; commercial, residential, new construction, equipment replacements, custom duct design & fabrication, service, maintenance, repairs...

Here in MA, you cannot discriminate against a renter based on them receiving any type of public assistance, and that includes Section 8.I just talked with another BP'er a couple of hours ago who was contacted by what we think was a "tester". 

I understand I will need liquid cash for repairs and such, but the bigger question is should I go where the properties are cheaper so my "risk" is less, or should I continue to wait until I have a much large amount of cash saved?