I would have the 15k the seller gave me plus my lets say 5k that I put up for the rest of the down payment plus closing costs and I would have the 10% of the renovation costs I'd have to put up, right?

Renovated the lower unit and I am sifting through applicants to fill it now.  

i just received this "potential lead" minutes ago  ( Providence, Rhode Island), its a 2 building property, one unit is a 3 family and the other one, one family, he tells me that in the 1 family we cannot go in an see because he has a tenant under section 8 and is going thru the eviction with the court. the other 3 unit house is vacant due to renovation he was working on it and seems to stop. told me hes not desperate to sell bu, but i know my fellow Dominicans lol, hes a avoiding a low blow from me on the price.im looking to see if i should wholesale this to a landlord, seller finance (he owns free and clear) or hard money lending so i can fix and hold. wow!

It would require the use of an ARM, and a variable rate loan for renovations.

I have 2 successful buy/renovate/rent/refinance under my belt using traditional financing.

CMHC-insured financing can help open the doors to homeownership by enabling homebuyers to purchase a home with a minimum down payment starting at 5%*.Features Loan-to-value ratios up to 95% for 1 – 2 unit owner-occupied properties.Loan-to-value ratios up to 90% for 3 – 4 unit owner-occupied properties.Down payment flexibility — In addition to traditional sources, non-traditional sources of down payment are permitted for loans with loan-to-value ratios from 90.01% – 95%.Flexible financing options — single advance and progress advances are available.CMHC-insured mortgages are portable — helping to reduce or eliminate the premium on the purchase of a subsequent home.CMHC homeowner mortgage loan insurance is available to a maximum of one property (1 – 4 units) per borrower/co-borrower at any given time.CMHC offers mortgage loan insurance premium refunds for homeowners who purchase an energy-efficient home or purchase and make energy-saving renovations to an existing home.

The property is a newly renovated house in the Hollywood Hills area where rents are relatively high (comps suggest rents will be in the $8500-9500 range) and tenants/buyers here can be more particular than in other areas.  

The renovation I am in now required 15 steel I-beams inserted into the basement.  

 Hey guys! So my husband and I recently purchased a Fannie Mae home in South Central LA (whoop whoop) that we are hoping to flip in the next 6 months. This is our FIRST flip and it's already starting off with some cra...

This is my situation i have about 9K in the bank i just bought and renovated a small income property last year and i own a home that i live in and it too also brings in profit.