Eventually, my older uncle told me that I could live in his house if I fixed it up after his brother moved out into a retirement home. 

Besides the obvious save money and fix credit.......

For my purposes, I'm looking for properties for fix and flips and possibly multifamilies. 

Some of that will get eaten up by fixed costs (purchase costs, holding costs and selling costs), and the rest of that equity is profit in the investors pocket.One reason a smart investor can purchase properties well below market value is by focusing on properties that have little demand (i.e., little competition for the investor).

The seller said the only thing needs fixed is the foundation. 

My husband and I started our fix and flip business about two years ago.

Max rent could be $1325.House was briefly listed in January, but pulled after they received a foundation bid stating entire house is off, max of 5 inches and would require 26 total piers costing $8500, not including fixing the cracks and probably plumbing that would more than likely break..  

Is it a fixed interest rate?

Then Find someone that does fix and flips and ask them if you can find deals for them.

I'm also beginning to take a lot of notes on building systems for each stage of process - selecting/assessing, financing, fixing/renovating, managing, etc.