Ensure you have reserves for vacancies or repairs, properly screen tenants, switch to landlord insurance, and keep detailed records for tax time.

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.

THEY HIRE CHEAP CHEAP PEOPLE TO REPAIR. 

Feel free to reach out with any questions about repairs, construction, mechanics, etc, as I am well versed in those fields.

New Roof, Foundation repair, New LDL flooring, Drywall work, New paint, doors, trim, appliances and new full bathroom on the 1st floor.

Have reserves for vacancies, repairs, and closing costs.

Make sure your budget accounts for potential unexpected repairs and delays, as these types of properties can sometimes reveal hidden damage during the renovation process.

.- Build Relationships with Vendors: Getting quotes from local contractors or vendors for common maintenance or repair tasks can give you a clearer picture of recurring costs.

Looking over your numbers I'm surprised a couple of them are so low - mortgage expenses, repairs and capital expenses.

Then if I have additional concerns I call in an expert to get further information and an estimate on what the repair will cost.