Delay the F/C actionAsk for a review of the API that was calculated. 

It has a good cash flow potential, but Ive heard mixed reviews on the area. 

Let me give you an example, I believe the asking price is $3 million, you will need anywhere from 20% to 30% downpayment between $600K and $900K ( private lenders may ask for more downpayment) Then you will finance between $2.4 million and $2.1 million and your payments could be $20k a month which a lender could ask for 12 months reserves.

That and lenders wont give a loan to someone who doesn't have reserves.

@David S.When reviewing deductibles and premiums, I look for the deductible where the premium reduction is negligible when you go to the next deductible above it.

You will need to get a local, rockstar Realtor, contractor, lender, and property manager.https://www.biggerpockets.com/blog/core-four-real-estate-tea...

On the other hand a line of credit might work for the down payment, but you will likely want to look for a private or hard money lender for the fix and flip portion and as a beginner, I would expect to put between 20-25% down and likely a bit more for closing costs and reserves. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Does anyone know of a lender who can do conventional financing for land?

We never like to deliver this sort of news, but it is an unfortunate necessity in this market.We include the cost for 12 months in our proposals because a lot of investors like to (or their lenders require them to) pay for a year of coverage upfront and it’s easier for them to compare rates.