Please keep those posts in the Classifieds forum.Need a spreadsheet or form?

Now onto cash required to operate which requires most attention when originating construction loans and is the point I really want to emphasize in this post. 

If you buy it too low, in some jurisdictions they will call it "equity skimming" which is illegal.It can be very profitable, I've done many, but you really need to know what you are doing. on pre foreclosures on the West coast if you happen to do them legally .. the old owner is due 80% of the profit if you sell within 36 months.. so there is that.. but if your buying pre foreclosure for long term hold and wait out the 36 months then your fine. the reality these days is post GFC lenders/ banks/ servicers have realize that working with the buyer to reinstate recast redo the loans is far better than taking it all the way to foreclosure so your correct its usually the worse houses that make it all the way to the end and go to sale.thats why if you follow NODs  Notice of defaults or whatever they are call in your state. you see so many postponements and or removed or paid off etc.. so you hone in on one property do all this work only to have it not go  to sale  rarely are you going to buy a home that you really want LOL

After searching more, I found a few BP post where people seemed to have one account for all deposits, and keep only deposits in there.

Quote from @Amy Breen: I feel compelled to point out something important about this post and its author's posting history.

Just created a post - great idea Derek!

@Ryan CousinsI know this post is old - but were you ever able to find a place??

@Connor Castillo I was just about to post on this.

@Timmi Ryerson its been 4 years since you posted about the fireplace but I was curious if you would share your addendum with me regarding a full built in fireplace?

Everything you posted is correct except your definition of “profit” unless you only paid $140k.