No lender wants to give out a loan without the borrower having skin in the game.As far as repaying the loan, it depends on your strategy with the house once its fixed up.

NEW Reno Estimate=$25K (high end finishes, SS appliances, quartz countertops, install new HVAC system, replace/update plumbing and electrical).. and 60 days to finish workARV= $175K range (rent=$1200/month, but with cash out refi, i'll pocket ~$450/month)Here's some photos/updates thus far (after ~30 days of work):Front, power washed with new window installed on day 1 (they came back next day to do pointing)  DARK LR/DR combo, somewhat closed off --> NOW OPENED into kitchen with new drywall installed (in kitchen, pictured).  

If they get cold feet or find something better or just decide the porch color is wrong the attorney can kill it with no penalty during that time.Best of luck!

@Dave Foster is correct, I would suggest that the check is made out to the escrow company and not your own name if you have that ability and have them deposit  it in your escrow company so you are sure that the amount paid is actually there and was not written on closed account nor written on a check that a stop payment can be issued so ensuring the check is deposited, not into your account or an account to which you have what could be construed as constructive receipt, is important to ensure that the deposit check is actually a good check and that the Buyer has "skin" in the game!

@Julie Thevenow  I like that the trim is the base color of the flooring.

However, there are many ways to skin a cat and plenty of people make money off of other class properties and properties that require much more repositioning and retenanting.

It stands out if a property in July doesn't have an entry and I can check the tag or follow up with the vendor.I would suggest keeping relevant info together for easy reference such as exterior and interior paint colors, type of heaters / water heaters etc. 

I might join a investment group so I've got skin in the game but not elbow grease. 

Amanda I can appreciate you trying to stretch a dollar and be creative but this has all been thought of before.A lender bases risk on skin in the game for an investment property.

It will also vary largely on the amount of skin you have in the game.When first starting out I remember facing 4% percentage points and 12% interest.