Hey all, I am new to the game and to the forum. 

Once I've got all of that cleaned up, I'll be able to see what I can scrape together for skin in the game and look for a brrrr buy and hold.

Whether I purchase it cash or with conventional financing, the banks only want to lend/refinance up to a specific LTV (usually 70-75%) on the purchase price EVEN if I buy the property at a significant discount (e.g. 50% of its current market value).In the past I've always struggled with this same issue, and thus eventually I end up tying all my capital in properties and I'm unable to purchase more (even hard money lenders want you to put some skin in the game).

No matter what a lender tells you, there is no such thing as no closing costs.The question is, who pays the closing costs.Traditionally, on a par rate loan, you will pay lender fees and title fees for a refinance. 

Play the long game

I tried to explain to him that it is just a numbers game to me, and that I am not looking to be a "Shark"; He told me that some investors do it, and end up with bad reputations for doing so.

I was able to get an in contact with a small bank and they told me 6 months after I'm in title ( I assume it would not have to be fully rehabbed in that 6 months) and if I live in the property it would be 80% , if I don't it will be 70%.

Because once you take title to the the land you cannot exchange into further improvements. 

My game plan is similar.

Need to be in it for the long game for DMM.The one thing about direct-mail, the leads are so unmotivated, you need a solid volume to find the good ones.