I have been in the construction business since I was 17 including those college years.  

I don't buy properties that require an HOA and the utilities are always covered by the tenant.So if I have a market that has 3B/@B homes for $100K the 1% figure I like to apply only tells me that the rent needs to be around $1000/month.When I find properties that fit that criterium, all the other important aspects start coming into play, but all the properties that don't meet the 1% are out.These other criteria include things like the quality of the schools, the distance to restaurants and shopping, the crime rate in the area, the stability of tenants, meaning how long are typical lease agreement.

Other options might include: getting an unsecured personal loan to cover the $20k, persuading a friend or family member to loan me the money, or cobbling together the money from random sources like credit card convenience checks and maybe a Lending Club loan.Problem is, while my credit is good and I have a decent amount of cash to work with, my income is low-ish and comes from four (!)

Since committing to this goal of becoming a successful real estate investor, I have found several helpful resources to include BiggerPockets.com (via Podcasts).

However if I bring back up to market conditions I would net about 30k but would have to invest an additional $6k to not including carrying cost.

I don't wish to include personal credit or income as a factor in getting financing.Any suggestions?

Purchase price: $600kRehab: $120k (Includes labor, finishes, taxes, insurance, utilities, etc...)Commissions: 2.5% = $20,500Sold for $820kProfit: $79,500BEFOREAFTER

If it is possible for you could start on a multi family home that is easier to get financing including the renovation but you have to live there one year but your tenant(s) could pay the rent that would probably pay enough to cover most if not all of your mortgage payment.It can work well to be a good investment if you keep it for longer term.  

You'll have to figure your adjusted basis including a small amount of depreciation and untaken expenses and capitalized items.  

They pay you each month for the amount that is not included in the conventional loan.