Bill too many factors would weigh into this.You are looking at hard money with very high carrying costs at 60% occupancy as a regular lender won't touch it.Too easy to go from 60% to 40% or lower and the new lender has a fresh foreclosure on their hands.Unless you pay cash you will need a HML or private money and will have to pay low to get it to cash flow until you can refi into a lower debt service once stabilized.Is this a local,regional,or national bank??

You can use dummy listing with unheard of prices example: 4/3 3,000sqft with private lake $25,000.

He knows I have done profitable rehabs in the past and that's a good thing but this will be my first with private funds.

The firm MUST be a licensed Broker/Dealer and you MUST have a Private Placement paperwork including your subscription documents and prospectus.

So, try LOC first, and private money next, lock up favorable long-term financing on holds that provide cash flow and you are good to go.

Sounds like private lending where you really vet the borrower and collateral might be right for you.

I have found more than 20 deals in the last month but can't get any bank or private lender to back me.

You went through the effort of itemizing the needed repairs, I would't expect anyone to do a take-off for you on this extensive list.

The insurance was by the original mortgage company, but the mortgages were bought by private investors and the original mortgage company is nowhere to be found :-/

Hi David, some suggestions would be to learn as much as you can, Typically I would not want to use my own money, private funding is what you want to aim for.