The other thing you could do is actually buy the property with hard or private money and cash out refinance with a conventional loan after the rehab. 

Keep in mind that usually your higher cap properties bring on their own problems and require greater attention, but it depends on your investing strategy/style and what you are comfortable with.

If you put down less than 20% be ready to pay PMI (Private Mortgage Insurance)skipping ahead....Plan on paying sewer expenses.

It used to be six months of expenses and recently changed.Buy with private money loans.  

Time to take a serious look at adjusting your personal life style.

ADPI is great, relatively inexpensive and they have private discussion groups for Q&A.

If you're getting a private loan I would definitely get the rehab financed too.

Onto downstairs.We're walking the downstairs and the entire thing was covered in the tongue in groove old school style wood planks, Red Flag #4.

Happy to talk more with you about this privately if you like.

Investment Info:Single-family residence wholesale investment in Durham. Sale price: $120,000Killer deal minutes from downtown! This quaint 1910 ranch is the best deal you'll find in a highly competitive downtown ma...