Ideally if you have three, you clean up one outside and in and sell it to an investor.  

Decreased IQ, higher incidence of schizophrenia, gynecomastia, decreased sperm counts, auto accidents.   

The owner would like $1,200,000 and will carry a note for $1,000,000 - $1,100,000. he ideally wants $200,000 down.As with most new investors I do not have capital for that type of down payment.A liitle about myself:I work a regular 9-5 job and also have a realtors license I have done two wholesale deals in the last couple months since starting to devote a couple hours a night to investing.

Ideally, I'd love to do an FHA loan, but I know how tough it is with all of the inspections you have to pass to get that loan through.

My auto mechanic got a 50k price/estimate to get the site report and design for a 6 bay auto repair shop that he needs in order to get a price on building the property.

What do you experienced people think would be the best way to work something like this, while staying ideally within the confines of an FHA (preferably) or a 5% down conventional loan?  

Ideally, we would like to work with a local credit union, does anyone have recommendations? 

I will say that although the 30k fee is not ideal.

All I have is 20% down on the $1.3M purchase, and I can possibly get another 5-10% but it is VERY expensive to do it (one of those working capital loans with a 24 month repayment = $7k a month worth of repayment) which changes my DTI ratios and is somewhat not ideal.

Ideally we could get a private money lender that would be willing to lend some amount of the renovations, $80k+In case it matters, we own a couple of investment properties worth over $2M and have a fair amount of equity in them (Loans on the properties equal about $1.2M).