@Ben BergHere is the process of renting a property with a roommate, focusing on cash flow, financial arrangements, and renovations.

The current in-place average rent for renovated units is $2,550, and the unrenovated is $2,150.

Bay Area, did a local renovation where I was able to do walk throughs with the contractor, and have pretty good control of this property, can check on it multiple times a week.

Open Floor Plans: The design of these homes features open layouts that feel larger and more spacious than they actually are, making them ideal for entertaining and day-to-day living.8.

What software did you use to manage the renovation?

The current in-place average rent for renovated units is $2,550, and the unrenovated is $2,150.

I started with turnkey because I didn't know anything about home renovations.

The borrower's experience is important, but what's more important is the "Hard Asset," Hard money lenders rely on their due diligence process to determine the potential future value, review the renovation plans to get to that value & sometimes even the contractor.  

Of course, many investors bend/break this rule, but that's another risk.2) If your bid wins the foreclosure auction, you then have to deal with getting rid of any occupants - who may steal/damage everything they can in retaliation:(3) You MUST have a great crew on the ground that can minimize surprises - not easy to do on your first deal.Regardless if you buy a foreclosure or other property, read our copy & paste advice below:-----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Versus if you leveraged, you could buy multiple properties (or larger projects), and be in a better position in the long run.The reality is real estate kind of only makes sense if you leverage.