I knew nothing about renovations, home ownership, or property management, but I had a vision, determination, and a mentor in my dad.

Big selling point is $15k gets you 32 units 100% ownership.

Quote from @Sofia De Santos Tavarez: Hello, my husband and I are looking to do our first rehab in a different city than where we live (we live in Austin and looking to buy in El Paso), and are wondering how one determines and writes a scope of work and determine what material to buy for what.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

This ensures a clean transition of ownership and responsibility for insurance purposes.

The idea of ownership is changing with the emergence of web3.0 :)Just my 2 cents, not financial advice.

He determined the price and terms for the property, and according to the agents involved, he consulted with accountants and attorneys before signing the contract.

For instance, you could look into refinancing the property to access some of its equity while still maintaining ownership and cash flow.