That's 50k a year gone and you are losing tax write-offs and equity potential.

We mostly buy off market now but I remember that is actually how I started investing, by flipping foreclosures. 

We normally meet on the third Monday of the month but that will not be the case in April as that is the Tax filing deadline of April 15th..

Every little thing in the project should be in writing, even down to the door stops :-) See my tile spec sheet below ...Two problems with your post though - 1) In my experience, most problems come from the customer changing their minds constantly.

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

@Felicia NituIn addition if you actually want to realize that value, you need to count another 5% for selling costs, and the taxes from the sale.Assuming a 20% capital gains tax, your total ROI on the above scenario would be about 12%, even with the numbers you were using. 

The Real Estate Rookie podcast is such a great resource—you're off to a fantastic start.

@Cody Lewis one strategy you can try is a discount for longer stays (ie 10% off for 5 nights or more; 15% off 7 nights or more).

If it's worth $1.3 million today, it will be worth $3 million or more in 20 years, you'll have paid off the debt (or most of it), you'll earn at least $3 million in cash flow over those 20 years, and you'll have tax benefits.

It was from a bank, Delmar Mortgage was who it went through before the sold off the loan.