Don't forget to update your insurance when / if you use an LLC to hold the property.

Then you will have to pay legal fees to FC and Pay a servicer to manage the loan alll while making your monthly payment not the notes.OH, don't forget to have money set aside to rehab the property once you get it back....

Evict.And when the day comes that your forget this lesson, and it most likely will, at minimum have the tenant pay every single dollar they can afford on the 1st.

@Tanner Barnes there is certainly a window before auction that a seller can still sell.

I was buying a place in MO, the owner lied about mold and I backed out of the sale - within the 10 day window.

Would love to hear your plan for getting the loan? 

Here is an article that I found on the Veteran's United website because I am trying to do the same thing:https://www.veteransunited.com/valoans/va-rehab-loans/The article states:"Here's what you can do:Repair or add new windows, doors, or sidingRepair or add new roof or guttersInstall new HVAC systems or water heatersImprove insulationWeatherizeTreat mold, lead paint, or moldMake updates to improve energy efficiencyRepair or replace the flooringRepair or replace electrical or plumbing systemsAccessibility updatesIn general, the project has to improve the property's livability and value and must become a permanent part of the home."

.- They came back at me with 6 months free, no rent increase until 2022, AND I need to replace the windows, submeter water, replace some decking, do landscaping.- I am just about to come back at them with no free rent, but I'll pay for their build out up to the value of 5 months of rent, plus windows/meters/ramp.Now I'm realizing that that whole package is a ton of money, and I won't make any money for over a year.

Look at the actual tax bill..find the millage rate..if you’re underwriting conservatively take about 90% of your PP x millage rate..don’t forget to add in your non ad valorem taxes.. if you get a discount for paying early, consider that also.

Day night and all in between looking for ANYTHING that could be a red flag (gangbangers, graffiti, broken windows etc) When I see kids riding bikes, fruit vendors on the corner, you know its not super terrible.