Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

But if costs are high or demand is uncertain, holding onto the land while monitoring the market might be the better play.

When I was first starting out, I would walk the property by myself and try to come up with a highest budget possible and make sure I was taking into consideration the high ticket items like Roof, foundation, HVAC, HWT, etc. 

I have used united granitethey are in willow brook- more south west burbs but i’m sure he would travel. my guy is Oswaldo- DM me for contactyou gotta go to the warehouse to pic out your stone and he doesn’t do demohe charges $200 to provide the sink which is a deal i highly recommend

Just be aware it's highly unlikely the hourly rate will be negotiable.

@Jay Hinrichs which BTW, 6% is high.

I highly recommend you stay away from these internet gurus, most are frauds in one way or another.Also, to answer your question yes it would be a red flag to venmo a guy from the internet $10,000 with no agreement in place. 

You will not need to join CAR/NAR and I offer super high fee splits.  

Buying in a high COLA with loss protection is a no-brainer in my book, but only if you expect to relo again.

This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.