There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Renovations can cost more than you expect, add 10% to your overall number.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

Thankfully, we caught it during the plan review stage, and with a stamped structural design, they got the kitchen of their dreams—without jeopardizing safety or facing surprise delays.Here’s what to think about when renovating:Structural Changes: Even moving a wall can have ripple effects on the stability of your home.HVAC Systems: New layouts might need adjusted airflow or ductwork.Plumbing and Electrical: Moving sinks, showers, or outlets requires careful rerouting to comply with building codes.Before starting demolition or submitting permits, have your plans reviewed by a licensed engineer or architect to avoid costly surprises.

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Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

A nightstand or dining with 70 pieces is a major bottleneck and keeps your team from moving onto other tasks, whereas one that is already assembled might cost $50-100 more but only takes minutes to unpack. 

If you use labels, it cuts down on the effectiveness a little but clear labels works better. 

If there’s a significant difference, it might justify the cost of adding more beds.For example, we manage a 4BD property where one bedroom is currently locked off, so it only sleeps 6 (1 king, 2 queen).

Bonus points if they’re used to working with investors or can help keep costs in check while maintaining quality.Cheers,Kevin I would say this about BRRRRR, especially as a newer investor.