BRRR & Homestyle loan in market that doesn't appreciate...

[Tom Chen]

Hi guys, Here's a bit of a predicament. Currently, I plan on investing in Syracuse. Multi-family homes on the low end can be around the $30k range that needs a lot of work or up to $80k that won't need any work. I have about $20k liquid... The issue is, if I buy a low end property, I don't have enough to do the rehab. If I buy the higher end property, I'm afraid I won't be able to BRRRR out because the area doesn't appreciate in value. What would be the best move if you were me and this is the first deal? Secondly, I've asked a lender about the Homestyle loans and she said that it takes about 6 months for approvals? For anyone who has used that type of loan, is that your experience? Thanks in advance!