As usual, it depends.

There are lenders that will help finance up to 90% of the purchase price and a 100% of the rehab up to 75% of the ARV with 660 and above credit (the exact details depend on the property and the borrower's credit profile).

The main items depend on the age of the house but typically include; Electrical- non-functional GFCI, double tapped breakers, missing knockouts on the main panel, missing electrical boxes and or covers, open-air splices.

. #3 Depends on their reaction in the discussion.

And it depends is the long answer.

Normally, I do not establish LLCs until I have the property under contract and I am deep into the closing process.Regarding if you need a LLC, it all depends on your risk tolerance.

For example, Revocable Trust do not provide asset protection like LLCs do.

Home insurance won't cover a lot of system failures like electrical.Home warranties are designed to make the warranty provider money; they are slow to respond, quick to reject claims, charge you a trip fee for every visit, use the lowest-cost vendors that provide quick-fix solutions, and are generally not worth the paper they are written on.

I would love to hear from more experienced people who have done the following in the past, what your thoughts are, and any advice you could provide

Survey of mortgage terms (click to enlarge):From left to right, 1.25 points, 1.5 points, 1 point but $41k in fees.Prepayment penalty: 5 years declining, none, 2 year lockout followed by 10 years defeasance.Commentary/review/discussion: I tried to provide three very different options here, but all still real ways that people actually acquire such assets.