Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

I've attached an image of my proforma based on your report and using a different property in the market.

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

For now, I'm mostly focused on identifying the right markets.

Parking lots, truck, parking lots, RV and trailer storage, storage units.Does anyone have good information on how to perform market analysis for these kinds of investments?

The partners between a realtor like myself (proficient in renovation experience), a general contractor, usually a loan consultant to support the buyer and the lender, (along with a buyer and seller of course) are the parties involved.I come across so many homes perfect for 203k or HomeStyle buyers, on and off-market, it isn't funny.

Plus how did he go there he must live there or close so your only working one market.

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnife Good list, in addition in my truck; ohm meter, megger, magnehelic, steel ball, air compressor  generator, plus stuff I'm forgetting

Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

I'd love to help anyone break into the Huntsville Market!