I'm not giving any sponsor a big check to protect my capital....that's like ground floor assumption for me....I want an oversized return.

This gave me a positive monthly cash flow of $418.89Check Out the Rental Property Analysis HereI'd like to pursue the property but am not quite sure how to move from the self-education phase to the taking-action phase.

I was thinking during the inspection phase, I would hire a professional plumbing and electrical inspector, in addition to the normal home inspection. 

If you need to put some money into it, with where interest rates are today, my "phase 1" underwriting check at the price point would be "Can I get rents to 1% of the purchase price plus rehab costs?".

The RI Housing first time homebuyer program page says "this loan allows you to finance 100% of the purchase price of your home".You're not getting much response on this because no lender that I know of is willing to lend at such a high loan to value, doubly so at this phase of the market where values may be starting to drop (meaning you have > 100% LTV).

And as the accelerated depreciation is getting phased out by 2027, there seems to be pressure to take advantage of it before then. 

Start with one city and fly out there and spend a week or two building your team on the ground for what you're trying to do. 

To invest Out of State at that price point, the deal has to really make sense because after paying everyone to be your boots on the ground you will need to get something for yourself too. 

Thank you everyone for your reply,@Greg Dickerson I have been qualified for financing with an FHA Loan on the property since its currently a four unit and I am moving into one of the units during the construction phase.

What about phasing?