To me, Louisville seems like an investor can get a better deal for their money right now in more areas of town, which is what makes me interested there.

Patrick,When you deal with a smaller lender or a broker they have tough guide lines and something called "overlays".

When they cannot remove the tenants they can’t fix the units.It is also an overreach, what the city could start with is helping the landlords deal with their tenants, perhaps starting some sort of arbitration system.

True private money is going to cost 10-12% plus deal equity which often makes the true percentage 20-22% on your money vs alternative lending which will be around 12-14%.Here to chat if you want some help comping a deal and putting one together. 

Bottom line:  Professional flippers don't rely on getting deals closed in 2 months unless it's a property that only needs paint, flooring,.... no permits.

if it is just the financial side holding you back - let your bank be your partner… or see if you can borrow the money from a family member who knows and trusts you -  without actually partnering with them on the control of the deal itself (pay them interest - or even bring in on the lien to secure their position the first time) - but let them be the finances and you control the project. 

Purchase price: $55,000 Cash invested: $30,000 Purchased property was renter-occupied at $600/month at the time of purchaseDid not renew lease with tenant.Completed full Renovation at $30,000 6 days on the rental market before the property management team got a signed lease at $1200/month Renter moved in July.ARV $179,980 What made you interested in investing in this type of deal?

We negotiated with the seller and eventually came to an agreement on a price and also worked into the deal that he was going to sell the property to me vacant.

How do you deal with the stress of ownership.

TIAHi Quynh, sounds like a great deal!