If you have 2-4 unit multifamily homes in that area it can help afford a higher loan amount as well as cover some or all of the mortgage payment.

Think PNC bank or Ally bank, or Betterment - and now Charles Schwab!

I understand the net profit amount would be higher if we continue to leverage and scale, but there is something to not having a mortgage on half or all of our portfolio that interests me from a psychological standpoint.

Secondly, I do not have a high confidence he is still at that address of record, or alive, for that matter.

The listing agent has no obligation to present oral offers and if she does there are many elements that would not be addressed thus creating confusion and misunderstanding.

However, this seems like an inadequate amount if costs rise for Future Value with a 3% inflation rate.

Examine the post-rehab value (ARV) of the property to determine whether you can refinance and extract most or all of your original investment.

The insurance company may cover some or all of the restoration costs.Scope of Work and Budget:Detailed Inspection: Get a comprehensive inspection to identify all areas of damage, including hidden issues like electrical, plumbing, and HVAC systems.Cost Estimation: Obtain detailed cost estimates for the restoration or rebuilding process from licensed contractors experienced in fire-damaged properties.Environmental Hazards:Asbestos and Lead Testing: Older properties may contain asbestos or lead, which can become hazardous after a fire.

You have a governmental authority using its power to hinder and regulate private transactions creating some kind of “litmus” test based on god knows whatYou have a seller remaining in a home he sold indefinitely.You have a lender that has twice filed for foreclosure You have a profit sharing arrangement upon resale with the seller/tenantYou’re performing repairs/maintenance on a house while occupied by the seller/tenantAny or all these are lawsuit magnets.If you buy a property, and the seller is a consumer, not an investor, you should NEVER do a profit participation.  

Also note that from a contractor's perspective, the number one problem is flippers who are inadequately funded and who rely upon the contractors to fund their rehab.