Purchase price: $950,000 Cash invested: $1,050,000 We've syndicated the purchase of multiple single family homes, remodeled them and made them into "fun-houses".

It has also gotten much more expensive unless you are willing to do such high deductibles that it makes you feel uncomfortable.2) Remodels: Not only is cost of construction high, but homes are only getting older, which means the projects are getting more extensive.

Did you consider hiring the remodel out since you had a tight window during the student's winter break?

No leg work from them to put claims against the tenants they found but to collect their portion and tell owner to remodel the whole home again to avoid time and effort on retrieving the funds from tenant to pay for their damage.

@James Hamling Should be required reading for all customers thinking of doing a remodel or new build.

@Joshua Melero We had vacant property that were remodeling and considered installing cameras inside the property.

I have flipped homes for 15 years with my best friend who is a broker in Florida and we sold homes that were ethically done and quality remodels.

Bought the property, supervised and/or did all the remodel work, sold the property, etc...and we did a 50/50 split.Granted that your knowledge is worth a lot as @Adam Bartomeo says, but if you don't have a huge amount of construction experience, then i do not think that a 50/50 split is fair to your brother....maybe more like 70/30 or at most 60/40...

We've recently come across what seems like a great investment property:- Tenant Occupied, paying FMR- Slab home that we will eventually remodel ourselves after the current tenants leave. - Only 4 houses down from my current home in metro Detroit, MI.We toured the property and it was a hot mess, easily a complete remodel because of cigarette smoke damage that seems to have reached every corner, but the prospect of redoing it really excites us.

-Should I get an inspector that is very familiar with FHA loans to help me decide what needs to be done in the rehab/remodel process so it will finance FHA?