First step is always to cut the water source and fix the leak asap.

On average, we see rates eventually drop to around 37% lower than where they started at the 1st cut by the end of the rate cut cycle.

If not, cut it all out and put down some strong sturdy plywood.

Focus on the big moves: security, renovations, and cutting dead weight. 

Cut your losses and free up capital.

Cut rates until it rents.

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Their home has been vacant for over 4 years and is uninhabitable as the city water dept cut off service due to a faulty septic system spilling sewage in both our backyards.

I've wondered that myself and thought: If an investor was looking for birddogs why would the birddog have to pay the investor money before they began securing leads for the investor, that the investor would then in turn give the birddog an investor's cut on the profit end???

Starting with a mentor is very smart – it really cuts down on the learning curve, especially with something like a fix & flip.