@Kim DurstHold $20k in reserves, close and get it fixed in 3 months and what’s left over goes back to prior owner

I am considering doing a joint venture with a contractor and seeing what I might make in a crazy housing market.I showed a loss in 2019 because a hail storm took out about 20 roofs and I was only able to put 3 new ones on that year and the leftover insurance money is taxed as income. 

I'm a new investor and had hopes of using BRRR and having enough leftover to put it into PM.

For example I went to pick left over paint and Sheetrock and she would not allow visit to garage.

I should have enough left over to hold on to for my next purchase for the BRRRRR method.Please help.

Can you please help me understand this:+$2800/m income for the building ($700/m/unit)-$280 in management (10%)-$1200 for profit ($300/m/door on average)=$1320 leftover to cover all your operating expensesI just don't see how $1320 can cover all your expenses: mortgage, taxes, insurance, maintenance, ground-keeping, CapEx, vacancy, placement fees, etc.

Assuming you do buy and generate $100-$200 a month in cash flow, will you still have funds left over after the down payment for emergency costs without having to rely on the $100-$200 that will come in?

This will all tell you how much down to put.If you have anything left over, you can use for next purchase.

Even if you use the $580K and go 75% LTV it pays off your $295k + $100K and there is cash left over.

.- i'd encourage you to consider doing as big a deal you comfortably can with the amount of capital you have, vs trying to start off unnecessarily small. make sure you account for a personal reserve, a reserve for the future property, and closing costs, THEN see what's left over for a down payment. also note that while there are creative ways to buy tons of RE with little $, they demand A LOT of time and energy, which it sounds like you guys may not be looking to invest right now. - driving distance vs long distance: try to map out exactly what situations this would benefit you in. could either of you guys logistically drop everything to drive multiple hours away?