Quote from @Anthony French: I’m relatively new to real estate development, having completed only one fix-and-flip project.

Below is something we have in the works:-Looking at a property that is 3beds 1 bath-ARV once complete is at 250K-Repair costs = $40K-Working on acquiring it for $125K maxThanks for the input!

Not trying to scare you, but a lot of lawsuits happen because the landlord doesn't follow fair housing laws, or simply neglects repairs etc.

Given that I'm not positioned to buy just yet, and simply running the numbers, is there a rule of thumb for estimating insurance costs that would make sense in Cook County?

Asking price, cost of rehab (plus time to complete), ARV, and rent once rehab is complete.Asking price $50k.

Even with a completed sale often times you might need/want to pay a lawyer to do a quiet title action to quell any possibly attempts to reverse the sale by an interested party.

We all will have our own opinions but end of day it is up to you if you value $10,000 as.I was booted from the FB page because I dared to explain why some of the things his students, and I use that term very loosely, were espousing were simply illegal.

Has anybody found a workaround for this or would the seller simply have to hold the note long-term without the option of selling it?

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

The building was vacant and completely rundown with the windows all smashed out by the end of the lawsuit.