In order for your scenario to work, you need to purchase a property at a cost low enough that after you rehab the property you will be all in at less than 75% of the ARV (I say less than 75% because you also need to factor in the closing costs for the first loan and the refinance).  

There is a reason for everything you just have to dig for it What is the employment rate,crime rate ,average wage ,cost of living, is population decreasing ,did a large employer leave town etc,etc 

Condo's are appreciating quickly here, low inventory on the market, high demand for the investments upcoming on the resort mountain.

Houses will be low 400's to high 400's (1,900-2,300 sf) depending on the model.

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

I am having issues getting pre-approved through a bank as I only have one year W2 job history and two years self employment history, even though I have 660 credit 10K saved and we'll make around 70 K this year all income combined.

I may not be thinking of buying the property, but if the bids are too low, should I just not make an offer?

Also in the price range you are considering you are running a high risk of having a low quality experience.

Hi @Sarah KhanCapital View area is up & coming and continues to experience growth with low median days to contract.  

These can be "conforming loans" like FHA/VA for low down payment.If you don't live in it then it's similar but it's considered a commercial loan and you will likely have to come up with more down payment. 20%-25%