By default depreciation is straight line taking a flat amount per year based on the expected life of what you are depreciating.

The partial claims are always way more than people expect and usually leave them upside down.

In real estate, the biggest hurdles are often the ones you least expect—and sometimes, they’re as small as a crystal doorknob.Back in 2019, a simple set of crystal doorknobs nearly cost us a $25,000 deal on a home on Burgess Street.

Because if he makes this loan with no desire to buy the building he doesn’t deserve to lose his money but he should expect to.

Throughout this project, we learned the importance of prioritizing renovations that align with buyer expectations in the area.

I also would 100% expect an invoice for the microwave. 

Of course, you won't listen to this common sense because you know more than everyone else here on BP and will have to learn the hard way.So, recommend you find and attend some local investor meetings or commit to watching all the videos and reading all the material here on BP that you can.Good luck:)Not the reply I expected considering asking questions is a part of the learning process but thanks for your insight!

At the end of the day, you need to underwrite this property based on the cashflow it is currently creating and possible "stabilized cashflow", then back into your purchase price based on the returns you want to hit.I.e. if you are wanting to make 20% CoC returns day one (your expectations are pretty unrealistic), but it may only be worth $250,000.  

That isn't what you should expect from a single $150k investment in a turnkey single family or duplex.

Like you said with fixed you know exactly what to expect and right not fixed rate HELOCs are typically lower than Variable rate HELOCs.