Works best if you trust the flipper.Wrap + Second Position Combo: This is a cool little move—you work out a wrap-around mortgage with the seller, then assign that contract to your borrower, and still lend in a second position for repairs or closing costs.

Hi Chris, As financing costs will be a big factor in determining profitability, you should be asking HMLs for proposals to fund. 

Depending on the fee schedule and activity this can cost significant transaction fees and always includes some red tape and extra processes to go through.

Tai lopez it appears has really costs Norada Capital immeasurable harm. 

If they don't show up, projects get very delayed and become unprofitable, even costly.

However, the property’s cost basis (what they originally paid) carries over to you, meaning if you later sell, you may owe significant capital gains tax on appreciation.Alternatively, selling the property at fair market value eliminates gift tax concerns, but your in-laws may owe capital gains tax on any profit.

Finally, short-term rentals can offer potential tax advantages, as many expenses associated with the property may be deductible.

There is extra costs, more regulation, and more liability. 

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

What else could that 30, 40, 50k+ downpayment/rehab cost etc do for you if it wasn't tied up in the property?