. 🤔 After having the plumber come back a couple of times to try to remediate, we brought in a different plumber that provided 2 other possible remediation things we could try.

There is a 30 year conventional loan product that only requires 5% down, which is great to use with this strategy.Are you focusing on investing in Bangor specifically?

Look for off-market deals, seller financing opportunities, or even house hacking a small multi-family with an FHA loan (3.5% down) if you plan to live in one unit.For creative financing, explore seller financing, subject-to deals, and lease options.

I'm looking to use a Fannie Mae Renovation Loan. 

I plan to utilize some cash, margin loan, 401k loan, and a HELOC as a down payment.My first house hack (now an out of state investment) has a Zestimate of $530K, and I have $266K left on the loan.

So, some quick back of the napkin math for the theoretical turnkey scenario you described above:- Purchase price: $2.5 million- Down payment: $850K- Loan amount: $1.650 million - Gross Scheduled Income: $288K- Operating expense ratio: 35%- NOI: $178K- Debt service at 6.7% interest = $128K annually - Before tax cash flow = $47,1999 - Cash-on-cash Return in Year 1 = 5.55%A $47K / year return on an initial investment of $850K seems pretty modest, no?

As far as financing goes, I have now a steady income (although a small history), a FICO score over 760 (but never had a loan), and my dad who could co-sign if needed.

They are a legit lender, we have bought loans from them.

You may want to make an introduction between your CPA to those 2 colleagues.The CPA can go over their services and pricing to your colleagues.I partner with many people on real estate deals - It never gets to a discussion on whether they do their own tax return or hire a professional.If a partner mentions he will provide capital - does he provide the capital on a timely manner.If a partner mentions he will find deals - does he find many deals and provide an analysisIf a partner mentions he will manage a property - does he manage the property well(find tenants, collect rent, communicate with contractors, etc)

I'd also be careful when using a heloc for the down payment and getting a loan on top of it due to the zero equity situation -Be safe!!