Im in NJ, but not sure it's the right market for me due to very high taxes and cost of houses. 

Seems like short term would likely generate more revenue but not really sure about profit when you consider vacancy and property management fees of ~30% (I would consider remote management but I would think cleaning fees would still be ~$400/mo. which is high).

Hey @Dave Myers sometimes 13% to finish up a big project is what it takes.

The majority of my properties are in Gatlinburg/Pigeon Forge, TN and it's fantastic for high occupancy and cash flow.  

The problem I find is I don't like putting in that much time doing research and field inspections (300-400 properties per week are auctioned) for such low odds that the property will sell at a price I need it to.....either the plaintiff will have a really high max bid set (like the full judgement amount) or another 3rd party bidder will bid it up more than it's worth.  

I would use those figures when you run your pro forma i dont think many lenders are going to buy off on a 2 to 3 month start to finish.. just sayin.

Builder ends up screwing us over and we are out $250k which we are in the process of trying to get back.In the meantime, I'm trying to get a private or hard money loan to finish the buildsCurrent mortgage 273,000Rehab 1 - 150,000Rehab 2 - 150,000Current value for both places approx $350,000ARV $1,000,000 for bothPlan is to refinance and hold as STRI feel that these numbers are reasonable - am I missing something?

Your finished product should be basically the same as it would be for a market tenant. 

What I've seen work best is having VA caller prospect target lists of motivated sellers (high equity, older properties, driving for dollars, etc).

Can I use 1031 funds to finish my basement which I plan to rent out once finished?