So the Jan 13,  2025 deadline is no longer in play

If the work needs updates, that’s where it can add up, but $30K sounds like a reasonable cushion based on what you’re describing.It sounds like a solid deal, especially if the cash flow is good.

Based on what you say, the LLC may be the better option. ...This post does not create a CPA-client relationship.

I haven’t gotten a tour yet, but based on driving by and photos of the inside, it looks ready to rent right away.

They're highly popular for turnkey rental properties because qualification is primarily based on the income generated by the property itself rather than the borrower.

As I start to look at what sub-contractors I want to use I wanted to see if anyone has a good base template for sub contractors to sign?

We have made money buying properety based on cash flow (lower priced) rented out for a period, then selling to an owner occupant. 

@Stephanie Menard, a few comments based on my own experience.1.

A business partner approached me about it, and I negotiated the deal based on CAP rate.

@Ilir Livadhi I think you are referring to property wholessalers telling you how much the rehab will be - and as you see, their numbers are often not based on reality.