Your contract is evidenced by the spreadsheet, payments, and likely other communication about the work.

Then you will have a principal and interest payment of around $13,450.00 plus Taxes and insurance so add in another $2800 for $16,250.00 a month. 

Someone will reach out to you. split direct mail cost with the best, pursue other marketing methods with the person.

Your minimum down payment amount for a 2-4 unit will be about the same as an often required 20-25% down payment on a co-op.

@Elizabeth RossFor properties under 100k you will likely need to use the BRRR method as its difficult to get a 30Y loan on a properties valued under 100k.

Mostly on trade accounts with local businesses for the materials, some business credit cards, some of the contractors were OK with waiting 30 days for payment. 

The didn't live within their means, accrued a lot of debt, and it eventually resulted in them not paying rent and being evicted.Consolidating debt reduces their payments so they have more money available, but it doesn't automatically teach them to live within their means.

so i had zero debt or interest payments on it while it was being fixed up. 

Believing there is less risk because you are investing a small amount of money (in this case using only a 5% down payment) is the second biggest mistake you are making behind purchasing this asset property in the first place. 

Example someone has 2 million down payment they buy something NNN at 5 million and I make 150,000 in about 60 days for about 20 hours of time depending on how complex the deal is.I am just tired of newbies being told bullsh*t.