But again, your profit after selling costs (and any capex improvements) would have to be in excess of $60ok to really make sense.

A law degree does not mean you know anything re wraps.If worse comes to worse, you can stop the foreclosure with legal action - it costs some but you will not lose your equity.I would not throw the baby out with the bath water re doing wraps and I do hope all works out for you.Reach out if you need a referral to a good AZ attorney to helpBe careful out there guysAlan Not to be too blunt, but you are handing bullets to a six year old with a gun.

Looking back on your earlier projects, what were the biggest mistakes or lessons learned in securing funding or managing build costs?

Interest rates are pretty universal across country, you are in a high demand, high cost area.  

Do you mind expanding on how you attained closing cost and down payment?

I see hard money lending as just part of the cost when doing these kinds of deals.

You are not paying for their services and won't cost you anything extra anyways. 

Insurance cost for weather-related disasters is growing to a major concern in many of the southern markets.

Partner with a Real Estate Tax SpecialistThe tax code is complex, and mistakes can be costly.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.