Also if I find an ideal listing, after closing costs and everything I don't have to worry about a full 100% mortgage.

Ideally I would want to invest in house that is roughly in the 200k range in Sarasota, FL.

Hi fellow investors,One of the wholesalers I deal with has sent me an email with this info.

I know I definitely need to peruse some of the other forums, however I'm assuming having three months mortgage set aside to cover tenant vacancy would be somewhat adequate( I know it's probably not ideal, but I could maintain the additional mortgage short term on my salary if I needed to)? 

If you have the option to redo the floors, then most flooring contractors can do a good job of it, and even match existing flooring in adjacent areas, if needed.

Obviously long term low fixed rate would be ideal, anybody?

3 K for paint.. get contractor grade paint, color match to any sample you want and paint the whole house the same color.

I have never hired a contractor before.The property needs to have the deck redone, foundation repaired (pier and beam), 2 bathrooms gutted and redone, removing some linoleum flooring and replacing with matching hardwood, possible HVAC installation.

To do this you must find the correct Market and Micro markets to invest in where the Property Profiles in these Markets match the Criteria from your Plan.Once your "base" is at least twice as wide ($1M)  as you started with ($500k), continue to flip the new base ($1M), reinvesting just the seed money (over and over again), but spending your continuous stream of profits to buy Cash Flow Properties.

He said that he thinks the 203k would cover it but I should call the county and see what it is zoned.I checked and the zoning will allow for me to build up to four units so my thought is that I want to ideally build two duplexes on the lot OR build a fourplex.