You'll have better quality assets, and  more reserves.

As many of you know, Assembly Bill 968 will take effect on July 1, 2024, mandating flippers of residential properties to disclose recent repairs and renovations if they sell within 18 months of acquisition.

You could even define quality metrics for some of these tasks to avoid a party doing subpar work (e.g., all guest questions must be answered within X hours/days).OWNER USE: What if one party wants to use the property during the highest demand time? 

I have someone who wants only 41k for this property with about 21k worth of repairs. 

Here's some copy & paste advice we hope you find useful:----------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.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?

We don’t really need the $400/mo cash flow and so have been saving that just in case the house needs a major repair.

We will be doing paint and floors as well as a few very minor repairs

To determine rehab costs, calculate the After Repair Value (ARV), total rehab costs, purchase price, and other expenses.

The condo includes high-quality granite countertops, custom cabinetry and wood floors.

Sure it works to get your money out, but when you when try to rent the property out, you are sitting with vacancies, low quality applications, and if you try to sell you can't nearly get what the home appraised for.