Let's talk numbers.The Preliminary NumbersHere's what I was originally predicting:Purchase price: $185,000 (same as listed price)PITI: $1363 (3% down conventional loan)Rental income: $1,800 ($600 per room, splitting utilities)Reserves: $400Cash flow with living in the house: $37...

After a preliminary research I have found two GC that would charge around 150$-200$ per square foot.  

Should I be using book keeping software so early in the game to track these preliminary expenses as I look for my first Brrrr deal in SLC?

My preliminary research came at no surprise to notice that it appears the entire state, much like the rest of the country, but perhaps more so is red hot for quick contracts.

We're looking to view a property next week and the seller/wholesaler is requesting a preliminary HUD statement from any house purchases made in the last year.

Some buyers/agents do like a preliminary communication, sometimes referred to as something like a Term Sheet, basically just something like bullets points, outlining a proposed offer.  

Typically hard money lenders will have you fill out a preliminary application, which includes high-level details on your deal, e.g. property type, purchase price, ARV, etc., your personal financials, e.g.

This is what my preliminary numbers are looking like.Mortgage, Taxes, and insurance: $2450 monthly (I aim to refinance after the project is done)Total rents expected: $4400-4800 What made you interested in investing in this type of deal?

Less than 5 years and you are wagering on no flat or depreciating cycle.  

There is no risk or penalty associated with intending to do a 1031 exchange and then not finding a suitable replacement property (other than perhaps owing your qualified intermediary a few bucks for some preliminary services you end up not needing).