Also, keep in mind that you should have enough profit (NOI minus principal and interest) to be able to realize a reasonable rate of return and still be able to set aside some money for capital expenditures - for example, money for new roofing, paving repairs for drives and parking areas, etc.In the end, you have to get to the other side of analysis though.

Then the idea is that i will have the equity in the home after renovation to use as my "20%" when I refi, get the 80% back in cash and pay off my HELOC with it, then do it again.

., continuing to invest in DFW including right in your back yard at Alliance Airport....he also owns that.However you are right. 

We ended up with a lender that specializes in tiny houses out in Utah, but they ripped my arm and leg off in terms of interest rate and down payment.

I had friends some years ago that in a condo put in high end appliances, it was a chef and his wife, so think $20,000 stove, sub zero refrigerator and top end dish washer.

After the year, you can move back to your current house while keeping the FHA loan. 

Not sure there is a lot you can do on your end...but here are some ideas.1.

Some light repairs, updates and potentially an addition, could see this worth $200K+ to an investor.13224: Luxury Market PotentialDespite its high-income profile and significant building activity, there's increased interest in luxury and new apartments, indicating room for high-end property flips.Focus on larger, multi-bedroom houses or convert them into high-end apartments.

Chance are it ends up on the MLS because of the probate or at auction for property taxes or foreclosure.

Most lenders will only advance on work that is done and in place.. so unless you can get your subs on Net 30 you will be forced to front the draws until your back-filled.