The best way to analyze the deal is to speak with a lender to get a soft quote and terms for debt.

@Joseph Bass like @Gregg Cohen I also went though a coaching program and it was very helpful to me.

Finance options include hard money, soft money, partners, and investors.

Purchase price: $115,000 Cash invested: $30,000 Sale price: $190,000 Was going to be a buy and hold brrr, the rental market was soft and market values high so pivoted to a flip.

Soft costs and delays due to them can be expensive.

Because maybe you could trade him some personal property (bass boat, RV, motorcycle, etc) that you either already have, or could buy at a discount for that $80k buy-in fee.

I grew up in a house like that, and have a soft spot for Victorian homes.

The renovation budget will include both the labor and material the contractor quotes and the "soft" costs -- permits, engineering, architectural, etc (as applicable).You'll be well-serviced by connecting with a contractor and a HUD-approved 203k consultant early on as well.

What type of ongoing documentation for repairs and soft costs will this private lender require?

If you put something in between the source and the structure that can absorb the vibration (eg rubber soft enough to absorb and diffuse the vibration), it'll substantially decrease if not totally mitigate sound transmission due to impact.Mid range and higher sounds are pretty easy to stop with decent insulation, closing air gaps, and mitigating propagation.