If you are able to get the property, private lending would be a good option for the renovations, depending on the plan to get the cash back.

The pros far outweigh the cons, which include:Safer living & health conditions for tenantsA peace of mind for you as owner & for tenantsWhich can then in turn directly or indirectly, depending on your perspective & outcome, reduce vacany rates

I used to spend my summers in high school and college working construction for my father's remodeling company, so i guess you can say being a handy man is in my blood.We really interested in investing our money in real estate as opposed to the stock market because our wealth SHOULD be dependent on our passion and abilities over the economy.

Robert Gunther it depends on your exit strategy.

I think that would depend on your budget.

Exterior looks My analysis:estimated purchase price of 110,000 with 20% downApprox 10,000 in repairsAbout 37,000 cash needed2375  Monthly income (1274 for 3 bed and 1100 for 2 bed) - depends if I would continue to let tenants pay utilities or not - this example i'll let tenants pay utilities2375 -  Monthly expenses 1564 =    $811   Cash flow!!!

It depends on when the property was built & if it's been grandfathered into older statutes.

Account Closed it is going to depend on how you did your taxes.  

Depending on how the lender responds the seller has some options.

It also depends on how much money you are investing.