@Nicole Jacobson I would Refi, if your income will allow you to do it.

Be strict on the rules and on who you allow to rent.  

- FHA allows you to put as little as 3.5% down- For financing repairs, you can just save the money and do the repairs as you have the capital, look at private loans or use credit cards, but this is more riskyGood luck with your search!

It was a foreclosure that allowed me to do some (mainly cosmetic) upgrades and sell for a profit.

The good part of this is that it's a pretty good job, so it will allow me to have a fair income/cash flow to put towards investing.Otherwise, I'm a quick learner and fairly good with finances but I'm not bringing anything to the table in terms of knowledge about construction/building/renting/etc. 

This would allow a comfortable transition.

That'll be a good way to pick up homes for cents on the dollar, allowing you more money to put into your flip.  

eg. the allowance of 45-55% for expenses would normally INCLUDE vacancy, not requiring you to subtract further!

If you click on the three little green dots top right of your post, one of the options is "Edit" which stays there for 15 minutes after you post, at which time it changes to "Update", which then only allows you to post an edited note underneath your original post.If there is no similar arrangement for thread titles, (eg.

Another aspect that will allow me to control construction costs is by not using an outside construction company.