It may be worth looking into Soft Money (alternative to Hard Money) financing.

Sweet Home Alabama would play softly on the hi-fi.

There are a lot of variables to determining the cost of development.. hard costs, soft costs, financing costs, holding costs, etc.

If a parent said yes to everything a child wanted, they would sit on their iPad for 8 hours a day eating candy and never brush their teeth.

However, if your inspection were to uncover a few items missed in your initial walkthrough, such as a soft spot in subflooring or an electrical issue, it’s a lot easier to ask for $1,000 here or there compared to a complete $30,000-$50,000+ rehab.The obvious answer is yes, bring your general contractor with you during the initial tour.

I know I am way to soft with my tenants, in always trying to come up with a solutionto their problem.

Fiscar cutters, extender ladder, wire brush needed. 

You would never do that in a cold climate because you are stuck scraping ice off windows, brushing snow and may even have trouble starting the engine if it is too cold outside.

Also you need to get an estimate on repairs, these numbers need to be as exact as possible with enough room for you to make money wholesaling it to another investor, make sure you take into account soft costs.

Using a cap rate calculation along with an estimate of operating expenses (30% operating expense margin as a soft rule of thumb), we estimate the building will be appraised at around $1.45M to $1.5M.