Funding for Rental Rehabs?
I came across a decent house that would make a great rental property well within the 2% rule after repairs... but it needs about 20k in repairs.
Purchase price is around $14,000 (possibly cheaper if I renegotiate) but I wanted to know what my options were?
Would a bank lend around $40,000 for purchase and repairs on a non-owner occupied property? If not, what's the next best thing? Do hard money lenders work with rental rehab deals and how would something like that work?
My end goal would be to either keep it or flip it as a turn-key property.