DEALMAKERS, however, use a rate that will reflect their own return and loan requirements (i.e. rent roll history & fixed expenses) realizing that “fair market value” is not set in stone and simply what someone may someday be willing to pay for it.

.-- For rentals, you can get a rent roll, A/R, work orders, security deposits to  name a few and more...All you need a system and process to use any software. 

There is an FHA 203k loan program where you could get repair costs rolled into your loan.  

I don't think this would work for your current situation, generally 401k administrators won't let you roll funds out of the plan until you separate from the company, and I doubt that you have substantial funds outside of your current 401k at 29 (although if wrong, then you're a rockstar and awesome at saving for retirement.)

Thanks guysE Rolling Woods Dr , Memphis, TN 38128

If the buyer is rolling over their construction loan to a permanent loan you will want to make certain they must pay you off on the conversion.  

I will contribute initial capital of $20,000 to start buying, will contribute $10,000 per year, and will roll all returns from existing properties into new properties until I have achieved my goal

Our sellers insurance was half ours as he had no coverage...When you get rent rolls and leases make sure they are complete.

I do however want to get rents up to market value.I am in an area that enjoys a low cost of living and the rent roll ranges from 500 to 700 a month on nearly identical units features and square footage wise.

No magic bullet.Anywho :roll: One guy / girl said that I could buy a house under a lease option and then lease option it out to someone else, with bigger payments and a shorter time period than the primary lease option.