If that is your case and there is actual equity to pull out (assuming thats what youre doing this for) then why not help the financing of the second reno?

There isn't nearly enough information on the calculator to give me a real indication of what is actually included in your numbers...but if you're planning for $35k profit...can you also afford to lose $15k...without experience it's possible to have your holding costs be much higher...and your renovation costs be 50% over if its your first project and you don't have actual contractor bids and are just guessing based on having read J Scott's book.

Most new investors rarely consider the consequences of actually having to work with people and will not even bother learning their state landlord tenant regulations prior to investing. 

@Gregory Schwartz I'm a Huntsville native and actually have some family in Hendersonville NC.

Becuase there is a cost for even using your own money or private money, you can actually offer the seller more if its cheaper to do subject to, and give that extra to the seller.

Actually should have mentioned that I never take SSN via email. 

I need the actual report because it shows prior addresses, mortgages, etc. that confirms info. on the tenant's application. 

So you should have paid for this in actual cash, not borrowed cash.

They all seem to say the same thing: rentals in the $700 - $900 range never drop and may actually go up in a bad market.

Other tenants are supposed to be in one unit but actually lived in other units.