Although the $55,000 renovation went as planned, dealing with unforeseen issues, such as older plumbing, required adjustments.

Seasoned.

It’s a great time to buy during the low season to get launched, stabilized and get your tax write offs now (60% bonus depreciation this year vs 40% next year).  

We are still in the beginning stage so I have lots of questions and am here seeking the advice of seasoned investors. 

They don't care where the money for closing comes from and they don't need to season the funds. 

If you want to lend based on the new NOI, you might need to let it season for a year.

Hello Everyone,I'm putting together an offer to purchase a portfolio of 4 properties from an older investor. 

Thank you Ned, that is exactly right, we actually check a condo/townhouse about 2 weeks ago, the thing was a condo with a basement, I cannot tell if it was a condo or townhome, anyway, the ceiling in the first floor was bowing, the 2nd floor, one of the bedroom was sinking, could not tell how this damage was done but the walls came apart from the floor, you could see the roof of the unit bowing inwards towards the structure a bit, and their "general contractor" estimate that for 5k they could straighten the property and level everything, even 1 window and 1 door looked so uneven that you would think  there was something wrong with your eyes...5k for structural damage, good luck with that one, we ran as far as we could from that....but we have seen they do inflate their ARV, since we learned the hard way , we go through these deals with a magnifying glass, I knew I was not so picky, numbers do not lie.Another thing that caught my attention, which I do not know if I am overly suspicious now that I am older, but they want to get the closing for us at the same time/day they are getting the property from whoever they buying it, which it seems to me they try to save on the closing by having a "dual" closing when in reality is just 1 closing and we are the one paying for it...I do not know there are few things that do not click right with this folks.

It’s an older house so older plumbing so def not replacing the entire plumbing.

Quote from @Season Price: @Tosin Oluwatoye a good way to test out your location is to put the concrete pads down, add a 30/50 amp outlet and water line, and then rent out the pads to people who already own their own tiny houses.