I am wondering what forum members would do.The house will likely sell for around 155kI owe 55k on first, and 50k on secondMarket rent, is likely around 1250 a month.Roof was done recently, it will need a hvac sometime soon.But other than that its been a low maintenance house.My mortgage payments with taxes/insurance on a 15yr fix at 3.25 percent is 800 a month.I am 5 year into the mortgage, and pay down about 400 a month in principal each month.Thoughts?

I am primarily interested in WHOLESALING and FIX AND FLIPS in the Central Jersey area.

Do manu houses work for long term buy and holds or better as a fix and flip?

@Ian I LeinwandFrom a Private Money Portfolio lending aspect you would most likely have (2) options on a (2-4 unit). 1) Rehab/Fix and flip type loan if rehab/repairs are needed >$5k- Depending on experience and Credit, acquisition LTV would be between 85%-95%, estimated Interest Only rate 7.09%--9.99% w/ 1 point for 9 months.  2) Rental Loan (2-4 unit), Depending on Credit, Max 75% LTV (80-85% SFR), Estimated 5/1 ARM rate 7.125% Full AM. or 7.375% Interest Only w/1 point.  

Looking to do a first time fix and flip (done one already but it was a rental we owned for 10 years then renovated and sold). 

So it won't be a "monthly" fixed rate, or even a daily fixed rate, it will be different every month.

I plan to build up some capital mostly through fix and flips to the point where I can put 20% down on rental properties and even BRRRR some small multi-family properties down the road. 

I'm in Philly and on a duplex/triplex and owner occupied building.. you can put down 5%, conventional mortgage, 30 year term, as long as the rentals pay a good amount of your PITI, you're fine(4) YES.. usually (but not always) buying a property that needs some rehab work will net you more money in the long run because of your forced appreciation in fixing the place up (read: sweat equity). 

So you'll need to know the market well, what fixed up homes sell for, and how to generally estimate repair costs to know if you can make a deal or not. 

One house as a fix and hold.