Basically, they don't want to take the risk that if things don't go as planned, having to chase you across the border.Smaller more local banks may be more flexible if you are buying 'small' properties but if you are looking for a mid-sized (250K - 2M) commercial loan - it can be extremely difficult.Good luck - Oren

Would prefer a decent sized walkway around the property.

Set your screening standards and stick to them.

These are the house stats: ¼ Acre LotCity Water and SewerFull Basement1500 Square FeetOpen concept living roomFinished will have 2 full baths, 3 bedroomsFinished bonus room in basement Was used as a bedroom but doesn’t have the proper egressFenced in backyardCan lighting in all bedrooms, living room, and kitchenNo garage, paved driveway fits 4 medium sized carsSquare Footage:Basement: 938 sfIst Floor: 844 sf2nd Floor: 533 sfFinalizing the Flip would require: Mounting and finishing drywall on first and second floorFinishing the partially roughed in bathroom on first floor Water supplies are ready just under the floorboardsSewer outlet is just under bathroom, PVC drains need to be roughed inElectrical wire is run from the panel to bathroom fan, lighting, and outletBathroom fan/light is installed, needs duct added to vent outsideNeeds greenboard drywall, flooring, toilet, vanity, shower/tub surround4 doors for first floor bathrooms and three bedrooms4 closet doors, 1 for first floor coat closet, and 3 for bedroom closetsFirst floor bedroom Subfloor replacement in first floor bedroom (some original floor boards are weak)Connection of electrical outlets - conduit roughed in but needs to be connected to panelDrywall mounted, finished, and painted throughoutFlooring throughout except for kitchen, I suggest tile in front entryway into first floor bathroom, laminate in open concept living room up to the kitchen, carpet the rest.Minor drywall patching and painting in Kitchen and basement bathroomTrim/baseboards installed and painted around all doors, bottom of drywall, and windowsProper railing for both stairwaysPower wash sidingMinor landscaping, just needs some mulch in beds and some minor weeding in flower beds.Two fence panels replaced in back yardBasement bathroom needs minor touch-ups on grout and caulking Other issues that may need addressing or could just be disclosed upon sale: Two minor basement leaks only when there is a TON of rain, otherwise basement is dryWarped siding in backyard where grill used to be, could be replacedSmall area of cracked siding on front of house at end of drivewayDriveway isn’t in the best condition, some patching may make it look betterAll work done on house has not been permitted except for siding and roofPlumbing Ventilation isn’t 100% to code and may come up in an inspection Side notes: When I lived there, people didn’t believe my address was real when getting deliveries because of the marijuana culture around the number 420 and the street name of Highmoor, maybe there is play here selling to someone that is into that stuff?

I'm really excited, because it took me a long time to find a property and I think the property has great potential based on it's size, street, and neighborhood.  

I sent them the contracts for the place after screening them, and after they stated on their application they had one "animal"--not "pet."

If you are putting the deal together and will act as the manager of the property (collecting rents, screening tenants, coordinating repairs, banking, accounting, etc) then you should deserve something for your time.

I have seen companies with portfolio sizes ranging from 100 to 500 with ONE person called the "Property Manager". 

The house essentially had 2 living rooms so I was able to frame a wall and closet in for a very good sized 3rd bedroom.

The house essentially had 2 living rooms so I was able to frame a wall and closet in for a very good sized 3rd bedroom.