Hello BP!  I was hoping to get some help/advice.  I purchased a SFH at the end of July.  Closed on 7/27.  My original plan was to rehab and flip the property, but as I approached my close date, it was apparent to me t...

You need to incentivize them to mentor you or partner with you, either you work pro bono for them or bring something to the table of value.To your comment about "shady" or dishonest, I would encourage to you be as honest and forthcoming as possible, I don't know about you but I got into real estate because I wanted to do something meaningful, profitable for my family's benefit, I wanted to benefit from my level of effort rather than giving it to someone else, and most of all I wanted to make the world a better place by improving whatever it is I am working on; I want to be able to lay my head on the pillow at night knowing I did everything I could today to move forward in a positive direction and did so with integrity in order to prevent any form of regret. 

Is there anything i can do to prevent that?

Are you charging for the blood and vomit stains?

I lnow over time the cost will be higher, but it also prevents neesinh to upgrade in yhe future and I can have.

There is nothing to prevent you from renting to a family member. 

Is there a formula for budgeting for preventative maintenance and repairs.

A lady paid me $10 when her face cleaning product stained my towels.If your cleaner isn't available, then you can't accept the next airbnb reservation, but in my model you had $0 income coming in anyway because you didn't yet have a long term lease on that space.

Note Well: When people fall behind on their mortgages to the point where they are foreclosed upon, they almost certainly have stopped doing preventative maintenance.

It was not an easy one, since we are in CA and the property is in OH, but we made it through and are looking to take on our next project.Bought: $79,900Initial budget: $65,000Real budget: $97,000 (mismanaged project by initial contractor (and second contractor))ARV: $219,900Improvements:Brand new siding on the second floor (was not in the initial budget)New roof (was not in the initial budget)Sealed and painted the basement - was quite creepy down there beforeOpened the floor plan from the living to the kitchen by widening an existing walkwayMoved the kitchen from one side of the house to the other to capitalize on the stained glass windowsGutted the upstairs bathroom and added really good looking featuresAdded a half bathroom and laundry room downstairs by the entry to the backyardNew ACNew plumbingNew electricOur contractor performed extremely poorly on this job, and I am happy to share a cautious word with anyone who aims to invest in Cincinnati about the team at Kaiker Development and Creative Customs Carpentry.