I did a solid 70k renovation on a flip recently while working 60+ hours a week.

We have the cash available to pay for more than half of the asking price (that would leave us without cash to renovate, though).

Where is all that renovation money coming from?

Hey Jeff,A real estate investment startup is just a small company that invests in real estate, usually through either buying properties and leasing them (apartment complexes, single-family homes, multi-family homes), flipping them (renovating and selling for a profit), or holding them (buying and waiting until the value goes up to sell it).I just started this with a friend, and I think it's a great way to get into real estate.

This is my first auction and my intention would be to renovate it and rent it out, refinance out to get money back out.The house is in Morris County, NJThank you for your help and guidance

No central air though and floors look like it could use some renovation.

Naturally, if you follow the process and pull your permits, the inspectors come during your build/renovation and do their job.  

The renovated units are renting quickly.  

If you exercised the option to Renovate using a 203(K) loan ORPurchase with a conventional loan, use your own money to renovate, and then refinance the money out after rehabbingHow did it turn out?

It's a flip, as was my last one, and my first deal is my home which we renovated and rent out two bedrooms to pay the mortgage.