If not completely occupied already, make every effort to get it rented out in the next two months before cold weather sets in.  

Meanwhile Iocal lenders are dropping their rates to as low as 8% and can fund draws the same day the inspections are completed. 

I started investing in Real Estate at the beginning of this year, and completed a rehab project on a raised ranch two family house. 

Items needed include:  new HVAC (current was installed in 2003), new water heater (the house has two, one is new, and the other was made in 1998), significant bathroom repairs/remodels in both bathrooms to re-do unskilled labor, window replacement to re-do unskilled labor, destruction of the garage and rebuilding the roof to be without the garage, destruction of a cinder block wall that was supposed to be used with the garage, finishing the driveway that was half-completed, fixing plumbing violations, new flooring and paint in the entire 2000 sq ft house, updating tax records with number of rooms and bedrooms, and some cosmetic updates.I initially offered $90-95k range, and said I would present a final offer upon review of the repairs.  

They completely financed my rehab costs.

I don't recall offhand if you can completely ignore DF if you only do one.

This addition is designed as a completely separate unit however it can easily flow into the existing house, creating a 3/2 with minimal work if needed.

Either their standards are much lower than mine or we are driving in 2 completely different types of areas.Usually, when I am out looking, I'll find two addresses in an hour that fit the bill of a distressed home and, if I'm lucky, one of them will pass the eyeball test when I am putting them through the appraiser's website.What am I doing wrong?      

Summary:-The industry is saturated-Kool Aid claims are commonplace.  

My rationale is that if we don't like the area/job/etc, I still have a vacation rental I can use to generate some income while we decide the next area to claim as the primary residence.I also have the flexibility of purchasing more properties in CT, which I know better, and skipping the vacation market altogether in FL and sticking to just residential non vacation rentals in Orlando.