Mortgage companies do not like other loans with their loan.Fact they make you prove you have money in the bank for 60 days with no big moves .Hard money loans are very hard to get the reject 75% of their loans .They go over everything with a fine tooth comb and then some .

Would anyone here say thats a ok start or would holding cash and seeking a Conventional loan  be better.side note: I want to get out of renting before summer 2016 (month2month lease at moment) Chase, as long as you are very familiar with the neighborhoods, have no problem communicating with the neighbors and potential tenants, and you have the money/skills necessary to rehab the properties, I think this is a fine idea.Good luck and keep us posted on what happens.

I have not yet had an official updated appraisal, but the Realtor and bank preliminary assessment said that we should expect a final value between $160k and $180k!  

Would a finance degree or a career as an appraiser be my best route?

My hubby and I are planning on a final garage sale next weekend and out long car ride with our 2 year old and 8 month old Jun 1st now to a destination "unknown".

I'm not trying to beat up on your system, an Uzi is a fine weapon in the right hands, but no one should begin firing an Uzi. 

I am an artist at heart, but have recently been bit by a finance bug after reading Robert Kiyosaki's books.

Technically that is not correct, and could bite us in the butt, but I haven't had to fight it yet....After they vacate the property, within 45 days, you need to send them a final accounting of the damages, cleaning, etc and how their security deposit was applied..

He hasn't given me a final sale price but I think it will be reasonable.

The only time I typically see permits checked during a closing is by the title company when they run a lien search, and that's just to confirm there are no open permits that have not been closed out by a final inspection.Also, many interior renovations do not even require a permit (plumbing, electrical, windows, and structural changes certainly do, but not cosmetic stuff such as flooring, cabinets, countertops, painting, light fixtures, etc).My point being, refinancing may be a viable option (it sounds like you were already thinking along those lines).