I think building your network so you can have the ability to execute properly is the number one priority other than getting the money to make a move.

@Adam RudolphThe market conditions dont dictate your success, your ability to properly mitigate risk does.

thanks for the insight @Kyle Mccaw, I was looking at a 203k option given it provides the ability to roll the rehab cost into the total, I guess the downfall is the FHA aspect of it requiring me to live on site for atleast the 1 year for example.

In no way, shape or form do I want to take advantage of the process or their ability.

Since you've had two water claims in a short period, it may impact your ability to get reasonably-priced insurance.

Essentially, the ability to have your purchase price + rehab costs <70% of the ARV, so after you rehab you can find tenants & then refinance to get all of your cash back.

@Michael Sontheimer-  most  lenders will use your  the  scehdule E  from your  tax returns for the past  2 yrs  to determine the   rental income that is usable for  qualifying for a loan ....so  if you have the ability to make this  schdule as  healthy as possible  - you might  consider this  ....if the  rentals  have been owned for under a year - the lenders  may use 75% of the  lease  amount  

Any contamination can significantly affect your ability to sell the property.

Would it hamper our ability to sell the note?

You've got ability to charge a higher rate for the property as a whole gives you much more appeal than having a vacation rental with shared space.