The payoff will be worth the expense when you're cashing checks.I'd add that to a bandit sign campaign, by posting fliers all over the place, and running inexpensive newspaper ads.Good luck!

It is impossible to accurately figure the expenses for a particular property and a particular time frame - there are simply too many expenses that can not be predicted.

It is inexpensive AND provides prima facia proof you are not trying to structure your finances to make yourself judgment proof should your tenants (or their guests) be injured and you are held liable.Others may have a different opinion but $300 a year is protecting far more than just the equity you outlined above.I've been told by a couple different people that you can only be held liable above and beyond your liability coverage to the extent of the equity in the home.I don't know who told you that but it is absolutely not true.

We will do some sort of time frame balloon clause, and in a set amount of time I will refi the house into my name.

There is still a market for non-REO listings in all markets due to the restrictions and time frames of REO properties

Construction time frame is 15 months.

I am looking for something durable, practical, and of course inexpensive to either install for the first time or replace.

In today's climate prepare for longer seasoning requirement time frames.

I gave him $1500 to get his guys insurance coverage so I could hire him -- today, he's done 6 projects for me, has made nearly $30K off me, and has saved me probably close to that same amount because he's so inexpensive.

I find doing an Equity Split (like a JV Addendum on the Sandwich LO) where the Seller PARTICIPATES IN THE NEGATIVE CASH FLOW and receives some benefit down the road.Equity Splits are valuable in expensive markets like SF, LA, NY, etc.Language might be:Ask the Seller to write down what they think would work.That way the seller gets exactly what they want, I sign up the deal, and then I clean it up later (checking with my attorney if needed).An Example:"Landlord to receive 20% of the amount of Net Profit.