Will lend you on a property that needs repair (203k renovation)3.

Is there is a way we can aquire the property and use the equity we have in it to fund the renovation?

Quick question, while you have the free time now, do you expect to continue having the free time to renovate/manage your 2 purchases per year once you go back to work?

Note: My company will accept personal or business check/with ID.Know where your funding is coming from (a credit line, pre-loan commitment, seller financing, uncle Bill or Mom or your shoe box under the bed).Understand bidding position (where to stand).Your options with real estate (flip it, assign your contract for a fee, renovate and sell for taxable income, offer it on a Tax Deferred 1031 Exchange for equal or greater value, keep it for a cash flow income)?

After that foreclosure home is bought and renovated to retail ready for the area (which is the best way to win in the rental home biz these days in my opinion), the home is now at 90% of the value.  

Get a check from the refinancing for $50,000 and roll that into doing the same thing with another property.Now once the house is renovated and refinanced I figure rent being around $1,200 a month, $600 going towards cap ex. and the mortgage costing anywhere from $250-$400 per month and the property cash flowing anywhere from $200-$400 per month.Am I way out of my league with this or does this sound plausible if not common in real estate investing?

Getting a home ready for rent compared to sell for full gain are two different renovations though, reason I'd want to rent it out for now.  

For properties going under $100k, you are going to need a 203k renovation loan -- FHA or conventional alone won't do unless you get a turnkey condo, but that's not the plan.

I am thinking conservatively that we will be able to save up a small amount of cash every year for REI since we intend to save for future renovations on our own home, vacations, and kids =D.  

Detached house being renovated at this time.