All Forum Posts by: Kris L.

There would probably be too much variation between properties for any kind of rough numbers to work for the project as a whole.   You could maybe work that way for a few specific project costs, like the painting and flooring, but things like plumbing, electrical and drywall will really depend on the level of work needed (think filling in a few nail holes vs repairing several huge chunks of missing drywall where someone tore out copper pipes).

While it may be a good idea to put rentals or flips into an RE LLC I probably shouldn't do that when buying my personal residence (not a house hack) correct? Otherwise I would lose out on mortgage interest deductions on taxes, and could owe taxes I pay my LLC in rent, right?

Thanks all

$5k earnest money?  Wow, around here it’s more like $500.

One way to avoid it in the future is to not let the tenant provide their own report but to run it yourself (or have PM do it if using one).

Hope that passes and other states start applying similar.

General Contractors in Texas:  If I hire a GC in say Houston, and part of the rehab includes some major electrical and HVAC work, does the GC need to be licensed in those areas, or is that just the sub that needs them?  

What were some of the items missed on inspection, and did you hire an inspector or self inspect?

When I first saw the tittle I got an image in my head of a dog weeping out of control.  Sorry for the digression.

Unless you are talking multiple unit MFH, 2k is too much for a general inspection.  Also, 10% is far too small of a margin to try to work with unless it will be your primary home maybe.