Ex (random numbers pulled out of thin air)$100k purchase $160k ARV$30k reno but $20k at cost$15k holding costsTotal Cost:$145k cost or $135k with contractorWith the contractor at cost, I have an extra $10k of margin where I don't lose money, but obviously not ideal for the contractor since they would make less.I think a good way to price it would be the equity would equal your profit if you did a fee construction at slightly below the projected ARV, and slightly below the projected hold time.

It makes sense to rent and save up that extra money to apply towards a future purchase. 

One of my current tenants in Denver lists the extra bedroom as an Airbnb arbitrage and I was totally okay with that, it's his residence and as long as rent is paid and he has the proper licensing/insurance then sure.

However, this might expose your operational LLC to risks associated with your rental properties, which could be mitigated by keeping them separate.Cons: Separating Y from X could provide an extra layer of protection.

I use Podio, I have been using it for a few years now.It's free for the first 500 contacts, which is perfect if you are getting started.You can customize it to your business needsThen after, if you want to automate the system, you can use Podio Automation for an extra feeGood Luck

Have extra company?

They can take it and sell it to get back what they are owned but they can't keep the "extra". 

I gave him 3 days extra versus the 3 as he promised in text to pay or be out.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Please remember to buy an extra box or two of the LVP so that you can do spot repairs if needed!!