That's why we go for 1) Hard Money Lenders (10-12% APR , 2-4 points etc) 2) Our Own money (which eventually runs out as we do more deals)3) Private Lenders (my favorite but I have to really cultivate and hide them).So if you got a conventional mortgage (4- 6.5% APR) for a fixer - you are already ahead of a lot of us.285 + 35 = 320 with a 350 ARV you are at 91% ARV .Depending upon cashflow you may or may not keep it. 

But my favorite strategy is using an already existing relationship the owner has with someone else.What do I mean by that? 

It involves two of my favorite things: REI and STL!

Through reading a few books to listening to a bunch of podcasts (my favorite being the RPOA podcast with Brian Hamrick) I have set my sights on Grand Rapids.

I wish I have done it way sooner but glad still did it and gamble my way in.

You will have favorites you work with, and some you rarely use.

Next step is spring into action.Short answer:$5,000 - $100,000+MUCH better answer:Important next steps:1) Determine your top 3 hot rental market areas you would like to look into, and interview 1-2 seasoned investor/buyer realtors within these markets.2) Whittle it down to your favorite 2 markets, with 1 solid realtor you will work with in each of those 2 markets.

Cash-out refinance to pull that capital out and redeploy in other investments (not my favorite). 

So it's not unusual for them to take liberties they wouldn't otherwise, like taking favorite light fixtures with them or digging up plants.

What are your favorite sites to create free/budget online property flyers?