Hey Peter, thanks for the comment and the insight and you are absolutely correct about knowing what sells in your market, I see this happen with a lot of fix and flip projects that are just in the wrong areas, the investor gets the house for a good price however spends too much on repairs and adds a lot of luxury thinking that it will push the ARV significantly higher than the average in the area.

These expenses can create a paper loss, which may offset other passive income or carry forward to future years.If you qualify for Real Estate Professional Status (REPS) or actively manage a Short-Term Rental (STR), the losses can be applied against your active W-2 or business income, reducing your overall tax liability.

And not just in our contract the title company sends a mutual release document of their own that both parties have to sign..

I agree with Joe, talk to a title rep.

@Luis Chug could you share the Frost rep who did this?

Hey Justin,I'm from CA and I have been in MS for a few years now, but my husband is a MS native.We are a family owned Property Management Company and we have plenty of experience with owners and investors.I have some ideas that you may be interested in, and I would love to know more about your opportunity to provide some insight.

You will get pitched, but good coaches want you to get some reps first or else they aren't really coaching you, they are educating you and you can do that part for free.

As you can see, two people already said just in this thread they have 100% occupancy during the hot time.

At first it is going to be uncomfortable, but the more reps you attempt the better you get and the more comfortable you will feel.

How to mitigate unexpecting costs that come up, is a battle that happens on every deal, but how we handle it is to keep the reps up.