A less-experienced investor will often be convinced by a less-than-thoroughly-honest and/or knowledgeable contractor to completely strip out all the plaster in the interior of an old home and replace it with drywall, or to indiscriminantly cover all plaster, sound and obviously failing, with sheets of 1/4 in. flexible drywall.

If you can get into the deal for less cash and lower payment, it will maximize your ROI and cash flow.If he wants top dollar, large down payment and inflexible on terms, there is no deal.

Depending on what type of financing she is using closing costs could be in that $7k range but they could also be less if she has a private lender.In my opinion both the 1% rule and the 50% rule are garbage because they are inflexible. 

We have done a few flips already, so we know how budgets need to have built in flex.

I think it's a zoning conformity issue, and my gut tends to agree with Anthony--I don't think you want to invest in something as inflexible as this.

Having my wife be the listing agent gives us ultimate in flexibility. 

@Evan Bell; i guess there's not specific joke about chase, but i think what @Nick Watkins was trying to point out was the inflexible nature of "money center" banks (think wells, chase, bofA), you now the big boys with trillions and billions in assets to really help out/build that relationship.

If you are inflexible the arrangement will last only until the newbie saves enough to it on their own. 

I keep reading people here saying  "Your rental properties are a business" as a precursor to  some inflexible dogma about sticking to the letter of agreements and pursuance of remedies for breaches. 

@Scott MeyersNot sure I agree on flex space since there is no precedent (the industry as we know it is not very old) and people getting laid off means more people in flex space.