I see too many investors now, put a significant amount of money in rehab costs and over leverage themselves on hard money loans with low down payments, their properties are not selling and they are lucky to just payoff their current hard money loan via a DSCR refinance. 

If you have commercial loans you can have an attorney write up and file a quitclaim deed (probably cost you $1k) to move it over to an LLC.

The house has appraised for $335k, my hard money note is for $242k, and I'm looking at only about $15k out once closing costs, taxes, and insurance are accounted for.

But I'd like to see Lynnette's projects to support your claim "the portfolio was a 30% increase in cost to the consumers" since in TN, NC, VA, NC PPAs are priced at avoided costs. 

Of course have your costs researched first bc the buyer will want to know how much it will cost them to buy.

There is a reason why I buy properties that cost a multiple of what typical cheap rental properties are going for.

In simple terms, it says you shouldn’t pay more than 70% of the property’s After Repair Value (ARV) minus the cost of repairs.

I agree with John, we are seeing renovation costs of $150k- $200k for a basement unit and $250k + for a coach house. 

I’m just really surprised that the tenant is not taking the option to break the lease break with a $ number offered (1 month rent plus reasonable amount for parts of house he wasn’t able to use) that is within a couple thousand dollars of what he wanted anyway.  

For a 30 year Conventional loan, I'm at 6.5% rate (6.808% APR) for a duplex, 95% LTV, 780+ FICO, owner occupant.And I'm assuming they're paying $2k of your closing costs - not your down payment.