I'm hoping the next deal will afford me either less rehab work/similar profit or larger profit considering I spent a couple months rehabbing the house....brand new everything.

Liberal areas along I-5 (major cities mostly) and then conservative farming areas further east (cattle and wheat ranchers).For your wife check out Bend and similar.

The pool of potential buyers is small relative to the sweet spot in the market (bread and butter homes that the average worker in the area can afford).Similar to buying property at the top end of the market.

(I have also posted this to another, similar forum -- I hope that doesn't violate the rules here.)

If you need a receipt the book lists a pretty good one.Funny enough the calculations used to identify good deals are similar or the same as what Mike advocates.

In your situation, I would think using $20k down on a rental that will positive cash flow FOR SURE would be a safer bet and accomplish a similar result.

I just funded a similar deal like this in TX---what you are seeking is a A&D (acquisation & development) loan.

They could get divorced or similar so your 'partner' is replaced with someone who clearly does not have the same perspective.John Corey

Canada might be very similar or it might not be.

Normally during final underwriting when you are hours from the scheduled close.Simo closings (or similar) can be a big problem with conventional lenders and naive, Average Joe buyers.John Corey