Very low risk and we cover all the closing costs etc.

Also, foreclosures in the Seattle Area are difficult to come by for the following reasons:a) Seattle has a robust economyb) Highly knowledgeable homeowner basec) market flooded with savvy investorsNot to say that distressed properties cannot be located in this region, but you have to do your due diligence; require lots of research.Based on the info you provided, it sounds like you have the necessary funds to cover appraisal fees, order title reports, and cover additional loan fees, however, you just need to find a hard money lender that can fund your project.

You would be suprised how long it take to replace all outlets, switches, and cover plates in a single room as an example.

The loan will usually cover the purchase, the rehab costs( which is why HML's may require an inspection and ARV to be done so that they know how much to escrow for rehab, and how much equity there will be in the house after the rehab is done), and closing costs.

And or you just get a second mortgage to cover as much of the balance as possible.

The sofa was completely covered with blood.

Do I have the right to make them agree to my rental agreement or do I have to use the previous owners agreement and trust he screened well.

If the rent will at least cover the original mortgage plus interest payments then you might find some nibbles.

He informs me that he wont lend to me because I don't have enough liquid cash around to cover myself personally for 5 months.

It isn't wise to make expenses that are not covered by the positive income that your rental unit produces.