Not to say your method is wrong.

I recommend the launch pad method.

Some methods (amongst many)Well functioning websites with SEO optimization, TV ads, mailers (yellow letters, bandit signs, bird dogs, driving for dollars, networking, foreclosures, estate & divorce attorneys.

However, with today instment property rates, with a down-payment of 15-25%, and payments stretched over 15 years, all in all is about $2600/mo, which to me seems like no one in 80910 will rent for that much.

Hi all,I bought a house in October and my parents loaned me money for the down payment. 

So My current monthly payment is $870 @ 3.75%.

She has a credit score just under 600 and literally $30 bucks of debt (her open account shows no late payments).

This means they can cash flow anything with enough down payment.

My plan is to use FHA loan then Refinance after a year and use the refi money to put a down payment on another house.

Based on a rough analysis for a project timeline, I believe the total project can be completed in 5-7 months with the team I have available if we get involved in completing the work on the project.Deal Analysis as a whole - Actual Costs may be slightly different but estimates should be fairly closePost Construction Estimated Market Value - Lot 1: $379,000  Lot 2: $307,000  Total Estimated Market Value $686,000+- $102,000 - Cost to payoff HML & Previous Builder- $154,800 - Estimated Cost to complete House #1- $170,370 - Estimated Cost to complete House #2: Includes New Well/Septic $7500, Impact Fees $2100, Permits $1000= $427,170 - Estimated Cost to Payoff HML, Complete Construction on House #1, and Construct House #2+ $686,000 - Total Future Market Value-  $20,580 - 3% Buyer Agent commissions as the current owner(Listing Agent) will be listing these properties without compensation-  $2,538 - Real Estate Transfer Taxes-  $1,500 - Settlement Costs Paid at Closing______________________________________________   $234,212-  $27,900 - Payment to Seller for Down Payment made by seller to HML @ Origination (For her to break even)= $206,312 - Potential Return before any Interest/Fees/Taxes/EtcI've spoken to a few HM Lenders and ran rough numbers by them.