Talk about cash flow, hitting the 1% rule, and tons of appreciation!

America has the 3 enlightenment Pillars that are true Civilization. 1) Rule of Law, 2) Freedom of speech/conscience, and 3) One life One voteThese 3 ideas are the air we breathe and water in which we swim, and give rise to actual and enforceable property rights, which allows for people to safely save, safely invest, safely create, and safely live a full and expressed life.

We went way over our expected budget - by far our worse budget miss ever (remarkably we were only 0.5 week over our 2 month timeline).Using my rule, take the estimates and double them then add for lost occupancy and that is what I would be seeking or the owner have the work done using licensed contractors and do the work, take the risks, and suffer the vacancy costs.If you purchase having to do the work and your appraisal can handle it, the credit at closing is superior to price discount.  

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

Ironically most investors don't slow down to ask themselves that simple question but will prepare a multi tab excel spreadsheet justifying the reason behind purchasing the low barrier home that lacks fundamentals because it meets the 1% rule or is a good BRRRR candidate because that's what they are taught.

If they say they moved early, you go and it’s vacant, if they haven’t turned in key or notified you they’re all out, you may have to follow rules for abandonment, like posting notice.

There are rules to follow!

Probably need to seek a lawyer and have them write up an agreement between all of you to set specific rules on this investment group.

You don't have to be an accountant to do bookkeeping - just click or auto categorize based on the rules you set up.

I think this is a State specific legal ruling in WI if I recall correctly.