When I say “hidden”, I don’t mean they are trying to sneak these by me; rather they are either rolled into a line item called “Fees” or they are rolled into “Labor”.

I know right off the bat it may need some repairs so I’m going to get a quote for those and see if I can either get a credit off the purchase price or try to get a 203k loan and roll the repairs Into a 30 year mortgage

You could roll it in a day and still get the tax break. 

Learning it while dealing with D class tenants would be a nightmare in my opinion.I'd start with something simple where you can find good tenants, learn the business and roll the dice on something like this later if you want.

Since I received your text I’ve watched 27 hours of Kung fu reruns ( tv land marathon ) and drank 4 pots of coffee and Pumped ready to rock and roll .so if your feelin froggish and want to leap then come on by and try to collect the 200 bucks.

Get some passive income going to go along with your 9-5 job, and that'll get the ball rolling towards bigger and better things.  

Here’s a summarization:Min Credit Score - 620Rates (Vary Depends On Program) - 5.35 - 6%Min Down Payment- 15%Loan allows you to roll purchase & rehab into one loan, in addition to the buffer they add in as a contingency planTerms - 15 - 30 yearsNo prepayment penalty 6 month seasoning period req’d for refiI believe DTI needs to be below or around that 40-45% range 2-4 Points

If this is a really great deal and you have a strong tenant lined up you could offer to manage the project and roll the fee into equity.Bottom line is it is better to get into the deal at some level, build your experience and portfolio.

So I need to roll forward all $350,000 to avoid taxes.

Keep that money rolling therefore deals as well.