Keep it straight forward and easy to follow the money. 

I just have a follow up question.  

Because if you pay cash for something, and need to pay it back, you want to buy it cheap enough where you can get a "cash out refinance" on the property after you fixed it up.Let's pretend your numbers are real.If ARV is $600,000 and you generally follow the 70% rule, you multiple 600,000 by .70 and get $420,000. 

Hi Folks, just wanted to say hello and follow this discussion.

The lakefront is a tremendous resource and Milwaukee needs to continue to bring back its downtown, then the surrounding neighborhoods will follow suit.

Hello I live on Oahu as a service member and would like to follow somebody’s footsteps/work with to learn how to invest and rent a property.

Would any of you consider the following property a possible investment deal?

If they do have their contracts in order then you know they mean business and care about their work and reputation.I suggest either writing up a schedule to have your contractors follow or ask your general contractor for a schedule.

I'd personally go the Section 8 route, but make sure to follow the advice of @Dennis W. and be sure to plug in Taxes, Insurance, and Reserves for Repairs / Maintenance, Vacancy, CapEx, and Property Management (even if you will be doing it yourself).

Before we got prequalified I had a long conversation with our lender about our plan, which is basically to follow the BRRRR method.