Insufficient reserves result in vendor bills piling up, value-add strategies running behind schedule, and returns being reduced, so it's important to have a clear picture about how well capitalized or undercapitalized a deal is so that you can truly assess the risk.

Lots of newer neighbourhoods have detention ponds built to reduce the amount of water going into the storm sewers during storms, so I wouldn't worry about it. 

Great news for some, the loan will be a portfolioed loan and they are probably insuring the portfolio and reducing risk, but other underwriting guidelines would be interesting to see.

Consider hiring a property manager next time if not just because they have the tools and processes to reduce the risk of this and move quickly to execute on a problem.

Lol only kidding, but seriously you can offer cash for keys but stipulate they leave the home clean, it will save you a lot of money just in labor cleaning up the place when they leave and if they leave it dirty remind them that was the stipulation.

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

Small yearly increases train tenants with what to expect which reduces stress and allows them to plan ahead for lease renewal time. 4.

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You are reducing the amount upon which you are required to pay taxes.

Increasing income is one, you need to reduce expenses too so managing debt is key.