My question is, if I were to buy a property for 70k with an fha loan ( 2.45k down) spend about 10k in repairs, increase its value to 100,000 would I be able to refinance out of the fha loan to a conventional loan without having to live in it for a year?

The chimney bricks need to be repaired and re-pointed where the mortar is missing or deteriorated.

It is important to note that the unit had to be replaced because it was beyond repair.

They just withhold any repair amount from the rent dispersement.

Also one of the flippers I had the homeowner hold the property and kick in 50% of the repair costs and we will split profits 50/50.

Seller says no money would need to be invested for repairs (I doubt that).

I would say if you did some repairs or updating this house can probably get about $350-370k.

The property is being sold as is, and owner does not plan to make any repairs.

Purchase price 78k (will likely renegotiate once I get inside and see what capex and repairs are needed).

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