On the eve of closing (last night), the escrow assistant informed us that we need to bring additional funds to closing due to two affidavits that need to be recorded in the loan package, for which the recording fees were not collected earlier.

The two reasons why most inexperienced investors lose their shirt on deals is incorrect assumptions on improvement costs or exist values.

We used a fannie mae homestyle loan to take it as-is and renovate it using the banks money. 

For example, an owner headed to foreclosure might sell you a property "Subject-To" where you take over their loan at a LOW LOW rate which changes the math a LOT when analyzing a deal!

If the sign out front offers loans or HELOCs, that’s one you call. 

Last year I paid for a “coaching” program, formed an LLC with an S Corp election because my intention is to make a lot of money, began putting my team together which includes the best realtor I know and contractor plus a few hard money lenders including one that will loan 100% of the purchase/reno after I get a deal or two under my belt.

Would you be obtaining a DSCR loan? 

Was the loan a balloon?

How much is the ability to assume a loan at 2.25% worth? 

@YaSin AquilThere are some agency lenders who will do loans with FICOs as low as 550.