You may need a Phase 2 as well in case Phase 1 finds potential concerns (say, issues due to a nearby Gas station).

Provided your Sub2 purchase closing is done complete with all the necessary paperwork (e.g. limited power-of-attorney between the sellers and you), refinancing should be no different than a normal refinance.Sub2 can be heaven or hell, depending on the quality of your closing paperwork.

You may end up finding a tenant at $1950 and be “happy”.

He has some great programs and a good group of mostly small investors.I've often posted a pretty big list of many of the groups that meet around town, so you might search on that and see if you can find one of those posts. 

We did get negotiate money from them to help with roof repair, but now know they were not honest on their disclosure.Our inspector missed code violations, HVAC issues, pipes that had been worked on and issues hidden that had occurred while sellers lived in the house, signs of drainage and water damage inside the house that had been painted over, completely blocked dryer vent...and we are finding more daily.We have had the house looked at by a structural engineer and HVAC techs that has told us we need thousands (likely tens of thousands) of dollars worth of repairs to make this property able to rent and come up to code for rental. 

You can also find our group by searching "Bigger Pockets AVL Meetup" at Meetup.com.

Hey @Nova Dear - I've found it hard to find any AMAZING insurance broker locally yet...especially that are local to Chicago. 

I expect to learn from all the pros in this platform and be able to also provide insight on what is happening in our growing community.

It's still early there whereas Columbus, as you stated, has already gone mainstream.I like finding markets before everyone else figures them out.

How did you find this deal and how did you negotiate it?