Here are the numbers on the property (we are looking to buy and hold)Purchase 70kArv 110000Rehab 15000My wife and I have great credit, cash reserves (40k), no debt, so I assume we would qualify for loans (currently waiting for my 2 year mark at my commissioned job).  

We still got the countertops from Home Depot but we had to go a different route for cabinets as we did not have 6 weeks to wait on these items.My wife and I are doing most of the work ourselves.  

Can't wait!

I've been told that when I move I will have to wait two years to get a mortgage as I am a small business owner.

I'd stay away from raw land unless you have the time to wait for it to be worth something.

I have granite, hardwood floors, upgraded kitchens / baths which creates waiting lists 5) if available rent section 8 only tenants with jobs.

Years ago, I moved out of my home and rented it while we waited for it to sell.

New development once finished if you are all in at a 9 cap you can then either sell for a 6 cap or just hold the high cash flow with permanent debt and wait for the next cycle to sell.  

Brother and sister sold for 200k they owed 20% capital gain on 190k "carry over basis" if they would have waited their basis would be stepped up on date of death to the fair market value of property or 200k so they would owe no tax on the sale of the property.  

I'll be prequalified, but they'll have to wait the underwriting time.