Sure if he drops it 30k or does these repairs before hand go for it, otherwise I’d walk away

Good luck manWhat you are missing in this scenario is that the property is already in the hands of a realtor and is planning to be listed soon. 

Sounds to me like you are either speaking with a local conservative bank, or a misinformed individual.If you want to "play the credit game", one simple option is to open a credit card or 2, but don't use it. 

@Matt Geerts I don't know how to quote forum posts, but this is advice to live by as a landlord, and it's actually really simple. 

everywhere ive read its simple step by step & as a newbie i would like something in depth

Interest Rate: 9.99% fixed interest rate Collateral: A first priority lien on Borrower’s fee simple interest in the Property and the improvements thereon together with any personal property owned by Borrowers related to Property Prepayment Penalty: none Loan Fees: The following fees shall be due: (1) 3.00 points, plus customary underwriting, processing, legal, administrative and site inspection fees to (**) at closing of the loan; (2) $50 application fee due upon signing of the term sheet.

Looks friendly to investors, has a great footprint and the Mill is cranking for the foreseeable future.

This why vetting upfront is so important.On the other hand, a larger contractor may have real assets in the company or even a reputation that they want to protect so they want to find away to avoid getting into legals which waste time and money for them.With respect to contract size, in reality anything under 100K is not worth a full blown lawsuit as the legals will eat you alive even if you win; small claims court may be your best bet if you are OK managing the process or maybe using a paralegal.On the emotional side, I strongly urge you to put that aside.

This is a very simple case. 

While there will always be distressed houses, motivated sellers, foreclosures, HUD homes, and even discounted retail homes, you have to watch the trends and learn how to utilize the opportunities at hand.