With flips, be careful as you can go over budget and find unexpected problems.

Thanks for the reply Justin.I'm going to see the property tomorrow and will investigate the true age of the HVAC units as well as all other major components. 

Leander Springs, a 78-acre, mixed-use project with retail, restaurants, entertainment, hospitality, office and residential components, is coming to town, Leander Mayor Troy Hill announced Oct. 15.Located at the southwest corner of FM 2243 and 183A, expectations are that a fully developed Leander Springs could be valued at $1 billion, according to the city.In addition to commercial development, up to 1,600 units of multifamily residential development are proposed for the project, according to the city.

We also underestimated the environmental component of the renovations leading us to have to expense testing we had not budgeted for and amend the project's final sow to work around those challenges Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We also underestimated the environmental component of the renovations leading us to have to expense testing we had not budgeted for and amend the project's final sow to work around those challenges Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

So I gave a 100k buffer to cover any unexpected costs.

I don't budget per se, but I always have a good balance in my account to cover the unexpected. 

This eliminates the "subjective" component that gets so many investors into hot water.  

Run your numbers and always account for mishaps - making sure you have the funds for the unexpected.

There are also DSTs that have a heavy debt component, making it possible to balance an exchange if you have a high LTV.The DSTs vehicle is a wonderful tool, but it should be viewed as such.