I agree with John, we are seeing renovation costs of $150k- $200k for a basement unit and $250k + for a coach house. 

If you are raising money in a syndication raising less than $1M can be challenging due to the setup and ongoing costs to manage and run it.

Each REI investor will have definitely grown either in knowledge, experience, or current market situations since their last podcast.I view the BP Forum posters as the free/easy entry into BP product lines. 

I've seen the actual cost to be around 15%-20%.

If you ever have any questions feel free to reach out and ask I enjoy helping and offering tips and loopholes to help save time and money.

Feel free to connect if you would ever like to chat about Orlando area STRs!

I point it out on flips or old houses, talk about how much it costs, and I don't think I've ever had a buyer give a flip (pun intended).The other trick for a buyer's agent is 90% of the time, they'll never know who the appraiser is or when the appraiser is scheduled or what their contact info is. 

Was going for the best cost-of funds (lower rate)

If you ever want to chat or need advice, feel free to reach out.

This also leaves me with $3,750 stuck in the deal (not including financing and closing costs, which could easily add another $20,000).In total, if I had to include closing costs and financing costs, I’d have about $23,000 (if not more) tied up in the deal and lose close to $700/month before accounting for expenses.