This is is a very good area and would actually live in 1 unit, so 3-4k negative cash flow for living expenses is ok, as any house w mortgage would cost that.https://docs.google.com/spreadsheets/d/1tfbjOlyVsGW3nHLVPk_R...Key questions/assumptions:- Total for this deal in cash is 300k, anything else (reserves, renovation loan etc) would need to be a bridge loan or hard money- 1 unit is vacant and current rents are VERY under market, projected rent is what seller gave as realistic.

@ ryan @Ryan Muska Hi Ryan, Yes I did to speak to HVAC professional to get pricing on project like this one.

Feel free to connect if you want to discuss any aspect of the process or share updates on your projects.

It can be challenging to collaborate with out-of-state buyers on fix-and-flip projects unless they are experienced and have a solid team of contractors.

That said, it's certainly impacting my project in numerous ways and I will have legal expenses. 

If you and your family are looking to strike sooner rather than later, it might make sense to sell it and reinvest in a new project. 

This is generally code for they invested $25k in a sponsor's project among a few million dollars of syndicated preferred equity capital and it generally is in some type of hoped-for reposition project. 

(Some of us have more than one...)So here you are.Your first step should be to get the facts and then reassess your options.You'll need realistic and accurate estimates of your ARV, your remaining repair expense, market rent, and total projected holding costs.If you run your numbers and you can still make this work as a rental, then great!

When you're looking for properties to renovate but not not local to check on progress of the project, it's important that you find or get connected with a general contractor that is credible and has references that you can see.

If you see WSJ Prime + anything less than a point  it usually means the bank has a great deal of respect for your creditworthiness, really wants to fund your project or combination of both.