As well as limit you potential top end profit.

Then he is going to hire subcontractors to do the job and you are going to pay them for that work as well.  

.- We can better control what's on our master key system- EVERY lock at a property is opened with one key (well, maybe not the garage car-door)!

In my view they made the correct decision and if you spent significant time recovering this cost, well I think we all know what that is. 

Then add any other codes required where you want to build and study those as well.

Based on the numbers you provided, these are well above the debt service coverage ratio of 1.25 hence from a lenders perspective, this is loanable.

There are a lot of idiots out there overpaying for deals right now...well...that always seems to be the case.

Hello everyone,I am from Alexandria, VA located at the border of Washington DC and Prince George County, MD working for a kitchen and bath remodeling company since 2017 known as European Granite Design that also fabricates granite, quartz, marble and quartzite countertops since 2003.I'm experienced Sales and project manager also designs kitchens & bathrooms for remodeling.Using my expertise and connections I want to start working for myself flipping old condos or houses in the Washington DC, Maryland and Northern Virginia (DMV) area.

As I see it, the only ways that real estate pays you well in the first 3-5 years is low to no leverage or a strategy that requires more work (short term rental, mid term rental, rent by the room, etc.).  

Most PMs, especially the well established ones, will not always flex for specific clients like this but it could be an option.hope this helps.