It is correct that it'll take a while from purchase to flip but that is because TJ is doing so much business.

@Luka Milicevic correct me if I’m wrong. 

Here is an example:Foreclosed PropertyProperty valued in the $150-160k rangeAsking price is $99,900If I only put down 5% the LTV would still be less than 80% correct?

Am I understanding this correctly?

@Ray JamesThe simple answer is no, I personally would not, if for nothing else that to pay 5 points (4.9 pts technically if I recall correctly) and 15% is way too expensive in this day and age of competitive lenders.  

Also, I'm expecting a pretty large correction in Socal pretty soon due to our market being propped up largely on foreign money.

Hi @Devlin Mcconnell, welcome to BP.While @Jake Hartnett is correct, not having a full bath will limit the potential rental pool, in the Boston area that might really be a big issue and might actually be a benefit.If you are close to the city there is obviously no shortage of "young professionals." 

I think you're primary point is correct: both loan terms can work, it depends on what you want to get out of the investment in the short term.

And if that is the case that there is a leak between the meter and the house, that is my responsibility to repair, correct?

We will see a whole wave of residential land go up for sale.