Hi @Todd H.I highly recommend meeting with @Jamie Rose the next time you are in Anchorage!

If you are interested in turnkey that meet the 1% rule then I can put you in touch with someone! 

Do you have questions about it or would you like to schedule some time to go look at the home?

There are other ways to fund this type of deal, but if you don't have access to or know of them, I'd slow down, get to some REI meetings in your area and learn more about this process.

I'm excited for this journey and looking forward to meeting other investors along the way. 

Anything higher doesn't meet conventional lending standards, and halts all efforts for these type loans. 

Another thing to note is houses that are in foreclosure are not typically in good enough condition to meet an FHA loans qualifications.

If you are using the 1% rule, then it seems this property meets that.

We showed up with strong numbers at the council meeting yesterday and the council voted down any cap or owner occupant requirements. 

-you can write off the cost of improvements to the units in which you do not occupy NOT Occupied Rental Property- Improvement can never be written off unless it meets some safe harbors( such as less than 2500).