Although my company is not based TX, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S. 

Two weeks into the loan/under writing process, the lender just told me the lot/structure is considered two townhouses, not a duplex (I confirmed he is correct per local PVA). 

Although my company is located in CA and IL, we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.Best of luck and continued success.

but a lot goes into analyzing a deal, including: $/SF, Average Days on Market in the area, how easy or difficult it is to get permits in the area, how long the flip would take, comps/ARV, Rehab, Rental Rates, how the area is trending, holding/carrying/hard money costs, closing/commission costs etc.If you can analyze the deal, you can then negotiate the deal with sellers, buyers, and lenders.

Cap rate methodAssuming a median cap rate of 10% for the area, offer price = $98k (NOI of $9737 divided by 10%)So, based on the above, I see a wide range between $98k to $159k none of which the lender may accept by the way.

and how is your credit.if you have a little bit of money IE the 3.5% it takes to get a FHA loan then just go that route you need a job and credit as well.if you cant qualify for a FHA loan there  are not going to be any private lenders going to do anything with you in any capacity... remember those books are just ideas and maybe someone gets lucky but its not the norm by any means.. they are selling dreams..

@Carson WilcoxThe self-directed IRA can obtain a non-recourse loan form a hard money lender or bank for investing in real estate.

We are both buyers and private lenders on lower $ ARV  SFR properties throughout the U.S.Best of luck and continued success.

My regular lender, who was taking too long reviewing everything, referred me to another bank who writes commercial notes; a small local bank. 

My company is based in NorCal and IL, but we are both buyers and private lenders on lower $ ARV SFR properties throughout the U.S.Wishing you continued success.