Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes. 

Does anyone have recommendations for a contractor for an almost full gut property in Rochester NY?

Or is that actual so you have the ability to add more to the bottom line? 

Welcome to BiggerPockets, Juan! 

@Nick WardWelcome to the community.

I'm reaching deep into my psychic thoughts… I see it… A majority of people who respond to this post will be real estate brokers… I can see it!

When you start to do a lot of projects, 50% is a lot of money to go out when you are scaling, finding deals, and doing all the other footwork.

For example, if a seller comes to you, looking for you to help them sell their house, your first responsibility is to help them get the most money for their house, and not try to buy their house as an investor for cheaper.

My goal is to become an expert in property management.

Need to be permitted and I am going to say it probably wasn't.