This step must be done carefully to avoid further damage.Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.Safety and Health Concerns:Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.Final Inspections:City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.I hope this helps, best of luck!

Investment Info:

Single-family residence private money loan investment.

Purchase price: $140,000

Cash invested: $140,000

ARV 375,000...currently making monthly interest only payments to investor...us...

All cash flow is allocated to a Capex HYSA for maintenance, repairs and updates.

(especially zip codes 36109 & 36117)● Niche: Single family houses (especially that need repairs) or small multifamily properties.● Price range: Generally - houses below $150,000.

Est After repair value 1.3mOther large scares: Many of the homes would have code violation issues, many have foundational issues (although my team is accustomed to fixing). no current city inspection but what happens when they implement code inspection department in 5yr 10yrs. 

Is everything in good repair?

It allows you to ease into being a landlord, gain experience managing tenants, do repairs and property maintenance without the pressure of a tight flip timeline and while you're getting comfortable as a landlord, you can gradually build your real estate team.

Typically I try to stick to 2-4 bedroom single families as larger homes do not bring much more in rent but more in repairs.

A local property manager can handle tenant screening, maintenance, and rent collection, which is especially useful if you’re not living nearby.Legal and Regulatory Considerations:Local Laws: Be aware of local rental laws, including landlord-tenant laws, rent control regulations, and short-term rental ordinances if you consider Airbnb.HOA Rules: If the property is part of a homeowners association, review the HOA rules and regulations regarding rentals.Financial PlanningRental Income: Ensure that the projected rental income covers mortgage payments, property taxes, insurance, maintenance, and property management fees.Tax Implications: Understand the tax implications of owning a rental property, including potential deductions for mortgage interest, property taxes, repairs, and depreciation.

If you go forward, make sure they handle all maintenance & repairs on the property too because these organizations typically have in-house staff..Snaking toilets, repairs, grass cut, snow removal, paint...Make sure you're covered with insurance as well.