Hi Julia,Rehabbing fire-damaged properties can be a profitable venture, but it requires careful planning and additional considerations.

Quote from @Jaycee Greene: A few things I noticed, in addition to having the tenant pay the utilities are:1) Incorporate annual increases in rent higher than 2% (in your area, maybe 4%-5%) with a slightly smaller increase in operating expenses (say 2%-3%)2) With a gut rehab, I'm not sure why you need to spend $128/month on cap ex, at least for the first year or 2.3a) An 80% cash out refi is probably going to be hard to get.

What are you trying to accomplish, what’s the upside to fight all the additional downsides I’ve pointed out?

It typically pays out actual cash value (ACV) for damages.DP-2 (Broad Form): DP-2 policies provide more comprehensive coverage than DP-1, covering additional perils like burglary, freezing pipes, and falling objects.

I have a template that I use that includes projected income and projected expenses and I run the calculation myself, but if you like ones that do it all for you in addition to what has been mentioned above AirDNA has one as well.

This would be my first property but I would like to find someone that might be interested in partnerships in additional properties in the future.

After a few additional email interactions that same day, your DoC stated "I do not have an answer for you.

Additionally, your parents might consider a reverse exchange, where they purchase the replacement property first and then sell the relinquished property.

You want to know of any & all problems before spending any additional funds on the property!

And add an additional security deposit, but more importantly is "Why".