Let's run a quick example:Purchase of $131kRehab $39k add 10% for the unknown = $43kTotal in $174k + holding costs.  

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

Unknown to me at the time, the underwriter found an error in the appraisal so shortly after agreeing to the adjusted price we were notified that the appraisal was revised up to $97,000!

For some type of clean up and repair of broken plumbing or similar when it is somewhat unknown what the scope of repair is, then by the hour.As far as invoicing, an accurate description of the repair and a separation of materials and labor costs would probably meet most people's expectations.

Your unknown additional expense is the duct work if you are already replacing the boiler.  

@Logan Merrick if you are new to investing I would be careful with taking a project on that has so many unknowns, especially when it comes to foundation unless you are getting an amazing deal.

So when a platform is small and unknown, there are no people trying to sell things. 

If you’re preparing for the unknown to take care of yourself and your loved ones, good job.

Can I FHA loan inspector or appraiser be sued for approving a house with structural issues, Bought a house a few years ago thinking that the FHA wouldn’t approve a house that had structural issues after I purchased it...