We are holding $30,000 in escrow against any damages and have a hard 30 days deadline for him.Our exit strategy would be to put new appliances and clean up and put it right back on the market for $235-$240k.The seller found out about us through referral from another seller we had marketed to.You never know where your deal would come from. 

I am buying homes that wouldn't pass appraisal standard for the low credit/low down loans and cleaning them up and rehabbing for the first time home buyer with marginal credit etc..   

Thanks @Omar Khan,  those services would be avaliable from a local commercial real estate broker correct?  

Does someone have a script that could be provided for wholesaling services to a company like Patlive?

In saying that, depending on your level if knowledge, option 1 is probably a better one. because $3000 is not enough of a buffer to service the property if you need to repair things.

Work done prior to the property being put 'in service' is just added to your cost basis.   

(Don't get them confused with Waterstone Bank, they don't service FHA loans.)  

They are on the low end of structuring what you can and cant do, mainly wanting to keep a clean, nice neighborhood (all single family communities).

If the terms of the mortgages were refinanced into 30 year AM (amortization) the P&I (principle and interest) payments would appear much lower and hence the resulting cash flow would be much higher when they (lenders) go to calculate your cashflow for DTI or debt service coverage purposes.This also could be an issue with how you file your tax returns for all of these 15 doors or a combination of the above.Either way its really easy to fix.

I am an investor myself building a portfolio for my family and am always available to be of service.