I can probably afford to keep going in the hole if I have to, but if the tenants move out unexpectedly or I need a big repair in the next year or two, I will be in big trouble.

Huge chunks of money and time flow toward unexpected projects.

Just because it may it happened quickly or it was unexpected doesn’t mean it’s not in the right alignment for your journey.

I feel like your numbers could exclude unexpected expenses that ALWAYS come up in a rehab.

Check and see if you have GFCI and 3 prong outlets and look for any other essential updates.

If not, you can still negotiate with the seller especially if you might back out let them know we’re your at and let them know they will have to deal with this appraisal with the next buyer!

Just a few thoughts: - Get a thorough inspection- Get 3-5 estimates from GCs- Pick the right ‘genre’ of GC (fourplex and smaller usually falls under midsize or smaller GCs) - Always check license numbers and if you’re repairs or more than $25k, request references/info for 3 past similar projects with pictures or check social media and reviews - Get a service agreement in place before finalizing your deal and make sure the estimates cover everything in your inspection report and nothing is overlooked so there’s not as much unexpected cost that pops up.

Being in a rural area there were unexpected costs and a difficulty in finding vendors.

For the latter, only thing is if the inspection show something unexpected (eg needing a new roof when it is obvious that the current roof is toast won't fly) or it appraises lower than your offer.

We encountered termites along the way and some unexpected foundation work that needed to be done.