I've seen estimates that are off by 300% when all said and done (e.g. the original bid was $10k but the final cost was closer to $30k).

Additionally, your brother would inherit your cost basis in the property, which could result in significant capital gains tax if he sells the property later.

For example do you have a great w2 and can you afford to cover costs of a major repair or 3 months of vacancy?

The location all in,cost him X; he got an appraisal for the bank from CBRE national firmof XX and now the firm who called him mentioned paying XXX.

Cost of construction is expensive and about to get worse.

Maybe you can find other hosts to split the cost.

The type of the neighborhoods where his properties were located didn't fit in with my plan but he did well and the purchase costs were low.

They will have additional costs for mailing & online campaigns to get leads.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

If your property management company is good and has built an internal maintenance team which has set rates and had strong relationship relationships with licensed contractor which should keep costs in control, you should never need to shop contractors on your own I wouldn't think.So in short, our policy is give us your preferred contractors upfront if you have them, but then we work all tickets to resolution including dispatch, and payment of invoices.This is of course for operational expenses.