I would do your best to get in touch with them and see what their intentions and expectations are.

They are also making the numbers.Challenge yourself to look further and what is the plan based on your living expectations.

I would recommend talking with an agent there in Louisville so you can get a good idea of what you should expect as far as price ranges go

@Hector Espinosa Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Also some people have no comprehension of the work and skill involved in executing a good value add and the compensation I expect for executing one.Be cautious in dealing with family.  

My first DSCR loan experience was unexpected. I'm looking for guidance from this community. Is my experience normal?
I was given the loan terms verbally from a DSCR loan broker out in California for a cash-out refina...

@Eric Fichera Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Contractors all the time either fail to finish or finish in a way that prohibits you in selling and exiting or refinancing at the number you expected and now you have to leave way more in than you thought. 

_____________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?