Once you have completed 2 real estate transactions successfully, I would apply for a acquisition and rehab line of credit.  

My name is Oleg, I live in Teaneck NJ.I am not completely new to Real Estate as I own a house (used to own one in Brooklyn before I moved here).

We had the same issue on a flip, cloth wiring with no ground so it ALL had to be completely replaced as per Electrical Inspector & before signing off the permits.

I am on my way to being a licensed Realtor, completed course 2 now booking course 3.

Hi Daniel, I would ask if they have completed a reserve study, when the last time was that they passed a special assessment and what it was for, if they have any upcoming capital improvement projects coming up, when the roofs were replaced, when the last time they painted (because if not in the past 8-10 years you may have a lot of leaks).  

They were then able to put term debt on the property, usually at 75% of value, allowing them to complete the BRRR strategy.  

I was hoping to simply cover my costs and have the 110K back to use on my next purchase and renovation.

If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

New construction is what I excel in, I have 3 new builds under my belt as well as 3 complete remodels.

I agree completely re Frank's $1500 boot camp AND 30 day DD take home course.