PHYSICAL CHECK = If you have permission you should physically check the property prior to the sale or have a professional inspector.

I got an appraisal prior to starting and my numbers looks like this PP: 137kClosing costs:5kRenovation: 230kprojected holding costs: 26kARV: 620-650KEstimated rents: conservatively--> $4400/month.

If you examine all of these questions, which we all read every day, there are a couple of apparent things missing that make them impossible to answer:1. skin in the game2. research done before posting3. why the poster is asking (background)4. camaraderie (just give me what I want, I have nothing to offer)

Prior to your closing make sure to ask your title agent what you need to bring on the day of closing and what needs to be completed prior to closing.

I wanted to check with other landlords prior to approving this.

As you alluded to, I do try to get the appraisal done prior to the first tenant moving in.

A few additional context that may make this a bit more complicated:- ideally the 1031 exchange that I do will then add my wife to the picture with the trust that we have established (however it's easier to do)- the property was previously used as our primary property, but is now a rental property for at least 4-5 years- an alternative is the sibling is open to gift annually up to the gift limit so that we own the property outright prior to the exchange, but that will take quite a few more yearsThank you!

We have shaken the trees as much as possible but from the Board of Commissioners, Director of Public Works, Manager of Building Dept to the assigned plan examiner, they have closed ranks on us and given us the boilerplate response of "you're in line, wait your turn."

Some also factor for the age of drivers, driving record, prior losses, etc. 

I was exploring the opportunity to capture equity from a property I purchased a few years prior (1031) while increasing cash flow to our portfolio.