For years, one credit card was enough, but in 2015 we did some upgrades and put the more expensive items on one of the credit cards that we got as a zero% promotion this year, so we essentially have a free loan on those upgrades for a year.

When starting out as a first time rehabber being denied a traditional loan but having a good sized down payment what would you do?

This will give you time to negotiate for those items and if they balk you can walk without losing earnest money.

I hope to be able to acquire a few more buy and hold items, ideally fixer uppers around me because I love learning and trying things around the house!

I also don't know the comps out there - if this thing needs 10K to make nice and someone can sell it for 50K then that's not a bad story to resell it to someone.It will probably take a special investor if it's in the shape you mention - need more info to really know, but the items you mentioned can be fixed for under 5K with the right help.  

Current Numbers:Purchased for 95k in 2005Note Balance $59,830.20Rate 5.75% 30 yr fixedMonthly Payment P/I $675.35Rent $1000.00Cash Out Refinance NumbersCash Out $13,885.73 + about $1500 from our escrow accountDebt to be paid off $60,000.00Est Prepaid Items/Reserves $2160.27Est Closing Costs $3289.00Loan $78,750 15 yr fixedRate 4.5%Monthly Payment P/I $831.09Rent $ 1000.00Rough Numbers If I SoldSell Price 110kLoan Payoff 60KCommissions/Closing costs 8kCash to buy a better deal 42KSo based on all this, what are your thoughts BP?!  

New buyer will buy property as main residency.The way I understand FIRPTA : Escrow company will withhold 15% of sell price of 100k which is 15k. at the end of closing on Sep 2016 I will receive 85k instead of 100k. for sake of argument I am not including other closing cost items here.

If so, have the seller or closing agent get the HUD from the transaction that paid it off and request an Indemnity for the item.

These homes traditionally rent in the 300-400/mo and sell for 30-40K a bedroom usually.What I call the fringe area - is where I think the highest risk is.

To avoid a large DP with traditional financing, would hard money be my best bet to get started?