Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

A strong agent who invests can help analyze deals, run comps, get rents, help you explore multiple investing strategies, strategize offers and negotiate best prices/concessions/ repairs. 

Then his phone rang.

You're going to have to contact Zillow by phone to solve this.

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Who gets to decide if a repair that appears to be needed is real or fictious, created to reduce the net available to the lender? 

Are there local hard money lenders that will actually talk to you or is it pretty hard to get a real person on the phone?

I do both an email and a phone call I usually email first and do a phone call to ask if they have a phone number.Thank you for the advice, I understand the lack of creating equity but I feel like all I'm doing is the same as any other buisness which is getting a product, repurposing it for a consumer, and selling said product/service.

We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

Work thru what you would bid on the house, what you think repairs would be, what you think your ARV would be.