It has been a total gut job and we have done most of the work ourselves as most contractors turned green and ran on us.   

@Aaron Klatt I believe anything you spend is just deducted from the total LOC and your payments are based on how much you're actually using similar to a HELOC but I could be completely wrong that's just my understanding of it from the limited information I remember reading.

You can finance 100% of the HUD total, up to 75% ARV, so if your HML renovation are on your HUD statement, you can refinance out all of your money.

Try them both and find out for yourself.Adam Atassi  Total noob question -- What is PIN?

Totaling 125K altogether, which is above 75% of the ARV.Or, as they say, the rehab is blended with the purchase, both cannot exceed the maximum LTV of 75%?

The house required a total refurb.I like to start marketing early; as soon as I have an availability date. 

@John Thedford - Totally. 

Your best bet is probably small time landlords as they’ll likely be more flexible.

Monthly Income: 1100Expenses:•-Repairs/ Maintenance – 50•-Real Estate Taxes – 112.50 (1.2%)•-Insurance – 30•-Vacancy Costs – 83•-Capital Expenditures – 100•-Total Monthly Expenses: 375.83 Downpayment: 18000Loan Amount: 72000 (with 20,000 rehab money)•-30 Years @ 5% interest Closing Costs: 4000Total Initial Investment: 22000Monthly Mortgage: 386.51Cap Rate: 9.54%Monthly Cash Flow: 329.32ROI: 17.96%After evaluating this, if this property was in a better neighborhood with less crime, would I be naive to pursue this property?

I would definitely say I like to take calculated risks and that would be my best bet to take a calculated risk.