BP's rules won't allow roofers and contractors to reach out to you in this section of the forums.

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves:Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

you mention applying for a loan …..does this mean you own a home and were  trying to refinance it  ? 

Use for investment for 1 year and then live in it for 4.In theory the FTB for CA follows the same gain recognition rules as the fed. 

Do you guys still apply that rule?

Obviously, legitimate wholesalers, who abide by our forum rules, use the messaging systems appropriately, and do not pretend to be investors when contacting professionals in our network, are welcome and encouraged to carry on.

However Becoming a Part of Renatus or Becoming a Part of a Different Real Estate Investing Education Company, it all comes down to applying the knowledge that is learned.

There really isn't a market that meets the 1% rule.

If you hired an agent or a broker to work with you, you'd be covered - but regulations & laws vary from place to place.Screening is best done by establishing a set of guidelines to qualify applicant tenants, then sticking to those rules to avoid legal issues (and for your own sanity).

No matter where you choose to invest, please keep in mind the following (copy & paste):--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?