So, that would be a win all around. 

@Russell BrazilMy thought process is the contractor could potentially win your business by providing you a quote on rehab costs.Have you had a contractor walk a potential property with you?

Check in with @Joseph Chiofalo he’s thorough, transparent and an excellent resource as you grow your portfolio.

I keep a running excel sheet going of market rents in my area as well.

We do this, it and saves us a ton of time/money/stress, so we can offer cheaper rentals, everyone wins.       

When you exit a deal, what normally ends up happening (like Tom Brady keep winning more Super Bowls) is that you go into two more deals (with now double the amount of capital) and you will likely find that with those new K1s you could result in you having way more passive losses you began with If you can see where this is going... yes, experienced investors with a lot of capital deployed might have 500k-1M+ suspended passive losses and have not paid taxes in years and do not appear to pay taxes for years!

For me- finding opportunities where I can force at least 15% equity and be cash flow neutral the first year is an excellent deal.

It is a no-win situation for the landlord.

Quote from @Sean O'Keefe: I just have an Excel spreadsheet/Google Doc template that I share with clients to help them track REPS and Material Participation.

I'd like to keep $100k equity for myself and sell the other $500k to equity investor(s) so I can keep the excellent mortgage (fixed at 3.25%) and take advantage of the cash flow and build more equity.