Hi fellow investors,One of the wholesalers I deal with has sent me an email with this info.

I know I definitely need to peruse some of the other forums, however I'm assuming having three months mortgage set aside to cover tenant vacancy would be somewhat adequate( I know it's probably not ideal, but I could maintain the additional mortgage short term on my salary if I needed to)? 

Obviously long term low fixed rate would be ideal, anybody?

I can't imagine it being legal to auto renew a lease like that.

He said that he thinks the 203k would cover it but I should call the county and see what it is zoned.I checked and the zoning will allow for me to build up to four units so my thought is that I want to ideally build two duplexes on the lot OR build a fourplex.

@Martin Nowak I've had great success with Liberty Mutual, but with insurance (for anything.. home, auto, etc) it's always good to shop around to get quotes.

It was just not ideal but these are all lessons Im learning along the way...

Ideally, you get the settlement amount in writing.If you win at the auction and find liens you weren't expecting, you have to contact each one and negotiate a settlement.Each type of lien needs to be treated differently.

So ideally if you eventually get rents to market value by increasing at $250 per month you'd be up to $5300 gross per month.  

My time frame for this is ideally within the next 6 months.I'm interested in connecting with someone who's done similar deals and talking about this process.