The current way the studs are built is not up to code, so they have to rebuild the entire structure of the kitchen wall This is not uncommon especially when renovating an older home and when budgeting you should also carry a very heavy contingency for unknowns. 

As we continue to stabilize supply chains, seasonal and historical patterns can provide insights for executing your next project, ensuring you factor in risk and stay within budget.Question: What are your thoughts on adjusting to the "new normal", how will investors manage increasing costs with many forecasting stagnant appreciation for the coming years?

The property is paid off so you have options.Based on what you’ve shared, you carrying the note sounds like a viable option.Have you considered seller financing?

The PLRs and Risks are discussed below.

This establishes the legitimacy of the arrangement and protects against audit risks.

Various legal setups can  mitigate a large part of this risk.  

I am slowly going crazy with how expensive Massachusetts is and I am leaning towards looking at cheaper foreclosure properties.I understand there is some risk to this but I am beginning to think this is the only option I will have because of how fast the market is growing.Thank you for any insight you may have!

In this space it's all about building a portfolio, my 1 house clients are at the highest risk because they can only rely on that 1 property, they don't have others to help alleviate the burden.

@Carrie Matuga I thought you might be interested in this thread.

.❌ Legal Risks – Chicago has strict landlord-tenant laws.