Not counting on it, but could boost me $10-15,000.The top has to go, it would still be around $60,000 to rehab a 960 SF 2 bed, which wouldn't work.

I agree with a lot of the comments here - that no credit is not as bad as poor credit.In our screening process, we have built "no credit" into our scoring system:They score nothing for the category "credit score"But they get a high score on "payment history"These sort of wash each other out, giving the applicant a "neutral" score that is then influenced by other categories.This has seemed to work well for us overall, and we don't have too many problems with people who don't have credit history - it is often a reflection of good budgeting, especially in older individuals.

I will tell you that you will get a HUGE confidence boost when your first deal is done.  

Biggest difference IMO is that your value for 4 and under units will be largely dictated by area comps (and duplexes - quadplexes can be difficult to comp depending on recent sales in area), vs. you have a lot more influence in driving value in 5+ since it's based on a multiple of NOI.    

Having a couple years of good tax returns showing rental income and consistent growth will influence your lenders decisions.  

The Johnson Govalle neighborhood association can be difficult with blocking zoning changes, but if you have 20 million to pay for dirt, you probably have a few bucks to influence the neighbors and the city council. 

However, I'll share my thought process:It essentially boils down to the total cost of one over the other, in terms of actual out of pocket expense.The biggest variables that would influence my decision would be:-Financing - How well can you leverage when you compare building vs. buying-Holding costs - How long will it take to complete a property?  

How you pay may have a small influence, for instance you might get a little bit of a discount paying cash, but cash deal as I mention above can be overpaid giving you a worse cash return.

Those of you who have issue with the influence system -- we've heard from you - many times, in fact.

Kevin Kaczmarek is a true influence and educator for me as I begin my career with his company.