Good contractors who are reasonable and professional and can meet a deadline are pretty hard to find.

Anything beyond that, means the margins are perhaps a little too tight and you may want to reconsider doing the deal.If what you’re saying is correct, that 70% ARV does not leave any, or very little money for renovation, than I can already tell the margins on this deal will be tight.

Can I put in the notice that if we don't hear back by the 60 days deadline,  per the lease, this will act as your notice to vacate.

Hopefully someone with that type of experience will post.I would say make sure you have set deadlines for the house selling or refinancing.

I finally ended up paying him the holdback too, because I needed to move on and hire somebody else because there used to be a 6 month deadline to get it done.

Its a great idea but the numbers usually are very tight.

I would advise any of my friends to sit tight.

The lease had explicit language stating how to exercise the option, and it seems that they have forgotten to do so and missed the deadline.

The numbers seem a little too tight when you add in the cap ex and possible water leak. 

If I am under a tight deadline I often outsource interior and exterior painting because its not that hard.