Buy a list of vacants.Yes there is a business model of buy cheap, fix bullet proof, and rent sec 8 in Macon, Columbus, Milidgeville, Warnner Robbins....   

Following the BRRRR model, if Gary wants a conforming loan as permanent financing on the subject property, the lender must comply with the rules.The rules for conforming loans come from Fannie/Freddy.  

Many smaller lenders operate under this model as well.

The IRR is not calculated by the model but it's probably not amazing either.Overall, if I'm going to manage a tenant and leverage myself with debt, I would at least expect a decent return on investment, otherwise I would invest somewhere else.

Both of you can serve as role models for others starting out. #65K in 18 months is incredible.My suggestion is to get active in the forums.

gutted but haven't able to finance for re-model What was the outcome?

If you are good with the numbers can model out how to balance your portfolio to help offset the gains from the flips.

Develop your finanzila model. 

The cost of the appraisal in the current lender business model is passed on to the person applying for a loan.

If the numbers work based on your model I would suggest it's a great area to invest.