Costs can be on the lower end if you use more standardized templates, while custom documents tailored to specific deals tend to fall on the higher end.Location can also play a role, with attorneys in larger cities often charging more.

For expenses like utilities, property tax, and insurance, I estimate a 3% yearly increase.However, keep in mind that if you do renovations in the first year, it’s likely you won’t need the full 5% repair allocation for the first or even second year.

You cannot use rental income above your mortgage payment to help qualify for a larger mortgage, but you can utilize 100% of the lease income to offset so that should help you qualify for more of a mortgage. 

Obviously, the rules will differ from state to state.The most successful buyers have trusted bidders with cashier’s checks in multiple denominations (for cash sales) and the actual buyers have field runners and people to monitor multiple prospective properties at a given time and check sales status for postponements due to BK, etc.This is the case in larger metro markets where many properties could go to sale but few do so.There are often better ways to acquire properties then auctions.

There are neighborhoods across the US where you can take these vintage properties, undertake complete renovations with all new mechanicals, roof etc. and come away with a properties  that costs far less than building the identical building with todays costs.  

Relationships often lead to off-market deals and valuable partnerships.Consider targeting up-and-coming neighborhoods or distressed properties in areas seeing new development or infrastructure improvements.If you’re exploring commercial, maybe start with small multifamily units (like duplexes or fourplexes) before diving into larger complexes.I’d love to connect and possibly collaborate.

do you have experience in renovation? 

I think that a new partner a very large real estate development co. that the company now has a relationship wanted it there where his company is also .We have very different definitions of a Hard Money Loan. 

I am also renovating a triplex right now and it would probably need to go in the trust as well.

Many here are most likely in this asset class and have dealt with evictions so they favor a larger guarantee and don't mind a hefty turnover if the tenant stays 5 plus years as the higher grade areas there will be more turnovers than that though the charges will be less per turnover.