Most lenders will be using your FICO score as a part of their underwriting process.You definitely need to maintain a good credit history because it affects your FICO score.

http://www.redfin.com/research/reports/special-rep...7 attributes of the urban neighborhoods where the young and educated clusterThere has been a lot of speculation about how the millennial generation (ages 25 to 34) is affecting today

However, repairs will directly affect my bottom line. 

If it does sell by the time second house is finished - move in to the second, or if not, then keep both on sale until one is sold and everything repeats again.

If they score more deals and make more money in 3-6 months than I do and they can repeat the process on their own: I'll take the course.

In the event they do get a default, they are not inclined to take much of a discount, there really is no need as the portion of their balance sheet affected is pretty small.

Bill Gulley Have you asked any of the tenants if they recall the name of the plumber that was there repeatedly? 

I don't really understand how that would affect deals.Thanks guys!

My affected area is a relatively small corner of the house, about 12 feet by 14 feet on one corner with the crack and settling going between those points forming a triangle.I think this could be overwhelming if it is your first flip and holding costs could be high if you are using hard money.

You pay that down enough and have some stable history of rental income on the new property, you should be able to refi your residence and pull equity out to buy yet another property...lather, rinse, repeat?