We have put together forms that allow us to scope out properties on a walk thru and be pretty close to the final cost. 

I send a text to introduce myself and ask if we can answer any questions about the listing or to support them in finalizing their booking.We follow up with an e-mail reiterating the same information.  

You also need a detailed explanation of each cost item to solidify a clear scope of work for that specific task.Experienced general contractors provide computerized plans to show the current existing conditions and the proposed final floor plan.

Once you start to find something wrong with almost every deal but finally find one that really makes sense, run it by your mentor to see if they agree it is a good deal.

For instance, property tax & insurance expenses.

We keep good books, have legitimate and good tax returns and can show tangible real income on these units.

It will also allow you to pull some cash out if you have the equity and for tax purposes.You can have two VA loans at the same time but having two means that the second home may not qualify for 100%. 

Owning makes money from cash flow, appreciation, depreciation on taxes and write offs for your taxes. 

It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

A FHA 203k Loan is where the purchase price and rehab costs are rolled into a single loan.Assuming you have a respectable FICO you can buy, with a FHA Loan (3-5% down, a 30 year amortization schedule, and a residential loan rate) AND because you closed personally, you will not have Asset Protection, in the form of closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.