@Will Proulx Appraisal value $100000*70%= $70000------- You spend $50000 lets say closing cost+$3500= $53500You will be able to cash out $53500 max under delayed financing exception. 

I'd challenge you to not spend another dollar before making an offer on a place.

That would be the first step.Your pre-approval letter will set your maximum spend - not that you should necessarily spend the max, but MFRs are pretty expensive and rare these days.For example, right now in those four towns, there are 262 SFRs on the market and 9 MFRs.The 2-4 plex MFRs range in price from $495K to $950K.

It keeps him on budget when he put out his recommendation first.  

Maybe some cleaning, too.If you're unhappy, spend the time and effort and do it yourself.

My advice would be to spend time looking for high quality buyers who are able to buy many properties a year. 

Too many wholesalers spend more time building a buyers list than finding deals.

Knowing your rehab budget is key, make sure you have a property manager you can trust and leverage his or her contacts.

To start, the numbers:3 bedroom, 1.5 bath 1700 sq foot brick SFH with bonus room.Purchase Price: $59kAppraisal: $105k as is with estimated $124k after rehab.Renovation budget: $20k.Renovations include: new flooring in bonus room, kitchen and baths. total renovation of bathrooms, new cabinets, crown molding (to cover bad drywall job by previous owner), buff hard woods, paint exterior, paint interior, remove awning, remove side door and seal up, fix low spot in kitchen floor, and remove the non-permitted fire place.Estimated Rent: Initially I budgeted $950 per month based on another rental I own in a similar location, but  two houses on the same block were recently rented for $1200+.

Either way - they spend 3/4 of their time in the north - clear where they would rather be.WA - VERY high cost of livingWY - "north" country / wild wild westSD - What does that state have to offer?