Hi @Tony Castronovo, can you please PM with your experience thus far with the local bank?

Please let me know if you have experience.

I just wanted to take a few minutes to propose a thought experiment in hopes of sparking a discussion on what the practical strategies to achieving financial success are and what the necessary disciplines one must apply to get there.

I am not going to "partner" with someone that wants to be involved in every decision, particularly when the owner has very little experience compared to me.

From personal experience, MLS deals are much less lucrative given their higher price points (typically).With respect to financing, you can talk to any of the hard money lenders on this site for different financing programs they offer (some are tighter with someone who has not yet executed a flip), you can take equity out on existing properties you have, you can use private loan from a friend or relative.

Hello,I apologize, but I will have to disagree based upon my experience. 

Has anyone had a similar experience?

However, these "cheap" houses are where the majority of the bad experiences come from because usually for a house to be worth that cheap it is in horrible condition or it's in a location where many tenants do not pay rent. 

It has been my experience, however, that the underwriters tend to low-ball that 75% figure.

If anyone would like to DM me or respond to this post feel free, drop some advice and knowledge please, I love hearing different experiences from others which is my favorite way of learning.