Boy scout saying: "Better to have and not need, than to need and not have." 

You're going to need to get a GC in there and do a walk of the property.

My husband and I have done 2 flips since last year using cash but we want to scale and in order to do so, we are going to need financing.  

For example you could probably find a really crappy 1 family for around 275k maybe a 3 bedroom but your going to need over 60k depending on the house to fix it up.

Based on my recent "lurking" this site appears to have a more professional and mature tone than many I have encountered, thus I felt compelled to join based on the quality of the interaction and value of the forum posts.  

This will be my first investment property and it absolutely MUST be a winner in order to set the tone for my future business.Again, Thank you all for looking and I look forward to your responses!!

If it's just going to need a light rehab or if several areas will need a totally reno.

@Shar Day -- Some recommendations:Security Deposit Refund: It sounds like you're going to need that security deposit, so don't give it back to them as an incentive to move.Notice to Vacate: Check your state's laws and your lease. 2 weeks does not sound like enough time, as you may need to give 30 days notice.

You're going to need to have at least 30% equity in your departing residence to be able to use the new rental income.25% equity if you're getting an FHA loan.What type of loan are you currently trying to get.

If you want to net 3k in passive income ,your going to need to buy more than one property that you might purchase with your 25k.