I'm calling for final on a converted garage next week.

i agree that a new purchase at 75% equity will typically not have significant cash flow and may even be negative when properly allocating for all expenses.Investing to max equity without reserves is risky and you indicate would result in stress.  

We have put together forms that allow us to scope out properties on a walk thru and be pretty close to the final cost. 

We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

I send a text to introduce myself and ask if we can answer any questions about the listing or to support them in finalizing their booking.We follow up with an e-mail reiterating the same information.  

However, that property has now appreciated to $1,250,000 resulting in a net equity of say $950,000 after mortgage and closing costs.

@Christian HwangFor contractors, Yelp is okay, but referrals from other flippers in your target market tend to yield the best results.

You also need a detailed explanation of each cost item to solidify a clear scope of work for that specific task.Experienced general contractors provide computerized plans to show the current existing conditions and the proposed final floor plan.

https://ecode360.com/15245641#15245642 seems like condo conversions is not permitted in Hoboken but curious what's the result of your case. 

I currently am working on a project and have a ppm my lawyer is finalizing a few things on and have a few ideas on how to raise but wanted to reach out to hear from other investors that do have more experience in this area.