If you could invest a little more cash, that would be the ideal way to go, on this specific deal, in my opinion.

Specifically in creating a proforma to determine which of the available size and construction options makes to most sense from a risk/return perspective.

What specific questions do you have about "how things work"?

I know this because I graduated from there.Let me know if you need help with any specific areas.

I'd recommend taking some time to educate yourself on the specific area you are interested in and the particulars about how foreclosures work before deploying any capital or trying to do a deal.

They've listed it now at the flip price.Just to iron out the specifics.

talk to a lender about the underwriting before you buy the house. so you know what to expect the whole way along. if you use a fannie loan, it'll be 75% ARV yes you'll need a good credit score, exact requirements will vary by lender.all banks are different, you can't get a specific answer to a general question. you must ask the lender you're going to use what their process and requirements looks like. 

I live in Salem currently and have been acquiring a bunch of properties in Salem specifically.

PM me and let me know specifically what you need. 

Do you have a more specific question?