Maintain detailed records of all renovation expenses to substantiate deductions and ensure compliance.This post does not create a CPA-Client relationship.

Drew points out a VERY BIG detail that I have seen far too many get VERY wrong.

Many are just following the practices they’ve been taught (although if you choose dishonesty, some responsibility does lie with you too).For any wholesalers interested in learning how we approach wholesaling ethically, just let me know, and I’ll gladly share a detailed post on it here.

If you’d like more details on any of these, let me know!

Has there been a third-party appraisal done on the property or has Huntington given you what they estimate the value to be?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Otherwise, weigh your options with estimated vacancy and remodeling time, but how you may be able to mitigate losses longer-term with the higher rents you'll presumably be able to collect with new tenants. 

I asked detailed questions on his other post he did a double post on this subject

This creates a natural flow for buyers, starting with curb appeal, showcasing the livable spaces, and ending with the layout and lot details.

These details will guide how much you can build and where.Engage with Municipalities: Start conversations with local governments early to ensure your plans align with their expectations.