Purchase price: $220,000 Cash invested: $8,000Located in downtown Woodstock IL, this 2700 sqft 2-story historic home features craftsman woodwork, built-ins, and hardwood floors, with modern finishes. 5 bed 3 bath property with a huge yard, fire pit, and full unfinished basement partitioned and accessible to both side-by-side units.

I own some rentals that I purchased as my original home and turned them into rental.I have a full time job so this would be handled by my General Contractor.  

As long as you have experience there are options for this scenario, however most lenders who are going to offer a mortgage on a property that needs a full gut rehab will require that rehab funds be included.

The bathrooms show better when the prospective tenants can see the full tile surround and they can get their own tension style curtain rod and curtain.

@Ben Tilbury I am not sure, but their websites should list all their services. 

Since we purchased it, we brought power back to the property currently set up as 2 RV hookups and additional outlets on a backer board (for a total of 200-amp service), had an RV pad and driveway put in, and had the developed year-round spring well brought back online - there will be a pump house built near the backer board this Spring (1st photo).

These are often only for 5 or 7 years and you have to requalify for a new loan at the end of 5 or 7.Most loans are full recourse.People ask about no recourse for SIDRA etc.

Yes I essentially have 2 services, one being property management and the other being Real Estate Broker Services.  

Is it possible to increase your income with your current full time job to get the down payment yourself quicker? 

@Joshua Jacobs I think you maybe referring to a DSCR or Debt Service Coverage Ratio loan if you're looking for a 30 year fixed mortgage.