In mine, no more than 3 non-related adults can rent the property at one time.

Also discuss with the contractor the time expected for the project if its small, mid or large and if it needs permits and how long would it take for permitting and all, also payment terms, make sure you go with payment terms that are fair to you and the contractor (so many terms but most common is monthly based on completed work with an upfront for materials) and ALWAYS keep the last payment until project is closed (retainage) and you do your walkthrough and if there's any issues you write them down and provide the contractor with (punch list to release the retainer once they're corrected or fixed). read about how to deal with contractors and always ask for references but it really depends on how big the job is, personally I wouldn't spend too much time doing due diligence on small jobs such as door latches or shelving rather on additions, layout change and other scopes.Good luck!

Hoping the BP community might be able to come up with some solutions with me- ideally we just aren't losing money on the thing, which our payments are $1,200 a month.  

Downstairs 2/1bth $600/mUpstairs 2/1bth $500/mProperty needs work and am asking $120kWhat down payment would you suggest?

When interest rates were lower there were more deals to be had and cashflow was solid with even a moderate down payment.

It just happened that im in the process of purchasing 2 properties this month. 1 is a rehab, that I plan on keeping for my self for a bit then selling.. the other is an invest property non owner occupied thats a 3 familyThe rehab I need to purchase out cash 105k and another 15k-20k to repairThe rental property I need to put 25% down and closing is around 70kSo I need 175k to purchase and another 30k to repair both properties I have 90k in liquid in a savings account,  230k in a 401k made up of the funds and stock and about 330k in my companies stock account..My plan was and not sure if this is the smartest way .. hence why I'm asking here!

For example, on top of down payment & credit score, you also need to factor in the actual DSCR percentage and if there is a prepayment penalty or not.

Given that I have cash for a down payment and could get a loan for a "cheaper" house is it really the ability to come up with the money that holds people back?

The main difference is that you don't borrow "money ", but instead buy the property from the lender over 360 payments, and the price of the property is marked up - this is the "profit" they charge.

The difference in his payment was $14.58...Your main focus should be the closing costs.