It was vital that the house be in close proximity to the one who knew how to do the repairs, because of the technology of our current time theoretically Id be able to monitor and track progress with a trust worthy foreman whos on the job, performing repairs, managing subs, and moving the needle.

I can easily access them from my cell phone, just not my computer.  

Are there any city or lender required repairs that will require an immediate injection of capital?

Hiring a Handyman: Posting ads on platforms Craigslist or Facebook Marketplace and conducting a multi-step interview process:Start with a phone screen to assess experience, availability, and resources.Follow up with an in-person meeting to determine compatibility and trustworthiness.4.

The LLC would essentially serve as a business checking account to collect rental payments from your roommates/tenants and potential write-offs for expenses such as property repairs/maintenance.

I recommend establishing a reserve fund for major turnover expenses, capital repairs like a roof replacement, etc.

but, it's not going to be "profitable" for several years, depending on how you define profit.you'll have a down payment, then closing costs - which new investors always seem to be shocked by - then potentially some costs to get a property rent ready, then you'll pay a month's rent to get it listed and rented out, then you'll likely have some repairs after the tenant moves in.  

Hey Peter, thanks for the comment and the insight and you are absolutely correct about knowing what sells in your market, I see this happen with a lot of fix and flip projects that are just in the wrong areas, the investor gets the house for a good price however spends too much on repairs and adds a lot of luxury thinking that it will push the ARV significantly higher than the average in the area.

This was an Oct 15th acquisition and took about 2 months to clean out and repair/rehab. 

I have his phone number but wanted to come up with a good proposal before I call him and pitch my idea.