There would be additional review at this point: ordering the appraisal, downpayment requirements, and the paperwork for the rehab draws and terms.The local banks I've worked with required 25% down on the purchase price, the rehab was done in drwas after the inspections, but all one closing and then the loan converted to a permanent loan once the draws were complete.20 year term resetting every 5 years, for me.  

I already have an idea of several ways I want to approach this deal but I would like to hear some of the seasoned investors ideas so I can better formulate my plan to acquire and hold.

We are also working on other deals together, so there are additional benefits to both of us.  

You'll find that many often require substantial fees in addition to your monthly payment in order to finance projects outside of their normal scope.

Do you know other investors that are interested in this type of rental property or are you yourself interested in additional properties of this nature?

Additionally, I'm a part of a fast growing power team that is seeking to partner with reputable contractors interested in joining our team.

First you would have to acquire title.  

There are several other strategies you may consider (BRRRR, subdivision etc.) but acquiring a simple cash flow property in Tacoma can be a good first step.

Hello All,My wife and I are just starting to look into real estate investing as a means to add additional income sources in our "old age".

Currently have a accepted cash offer on a house that may have some foundation issues and need a additional quote to reference for potential cost.