There are many ways to skin the cat, and there a few ways to burn it to a crisp.

That gives you time to build a larger downpayment and then when you go to the bank, it shows you have been managing the property, you have skin in the game and you are a good risk. 

Usually hard money lenders and private money lenders want to see experience and some skin in the game.

you get your 10k : i put in skin in the game by renovating it: WIN / WIN situation right? 

@Michael Travis parrish If you're creative and have thick skin there are still things to find but it won't be easy.

Many of those people that got foreclosed on had little to no skin in the game , no down payment.

As co-owners we are the best property managers because we have skin in the game (50% ownership in the home).I'm open to holes getting poked in this, tell me what I'm missing here, it seems like we could buy 15 homes within the next 1.5 to 2 years which could get us around $180k/year once stabilized.

@Brittany Booker, real estate is great because there is so many ways to skin the cat.

The ozone generator is definitely a must, another thing you can do is wipe all surfaces down with a product called TSP.

All looked bright and happy.Through the project, a few small issues with the contractor surfaced, and we started getting everything in writing: change orders, designs preferences, and even our weekly calls.