It's a great house and the price is perfect - surprisingly under what I would expect, which makes me suspicious.

I figure the worst case scenario, I don't sell anything but I gain a very significant amount of experience and knowledge about real estate (I would be surprised if this happen though as I do have a lot of sales experidence).

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The vertical cost (construction cost) is consisted of material + labor + contingencies (surprises) + overhead + profit.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Thus, don’t be surprised if your rehab estimate is 15% x $800k = $120k.Agent sales commission at 4% of ARV = $32kAssuming you put 20% down, a 6-month HML at 11% plus 2 points will cost $36k.

@Joey Gedgaud we take over a lot of properties where owner complains previous PMC:1) Poor communication, taking many days, sometimes weeks, to get a response.2) Maintenance work being done without notice or approval request.3) Surprises for extra fees, services not covered , etc. because the management contract was "simple & short" instead of thorough.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

So I am optimistic about my daughter being able to do for herself. she’s in Hawaii and it’s surprising to me that national banks are not present there.

You would be surprised how many times this will change their mind.