@Ryan Rush RushThis is a classic example of why BRRRR does not work and Cash buying wins every time.

Heres an instant classic but we get them almost daily...

It was a good experience overall even though I made a few classic rookie mistakes. 

Classic.

We have three decades of our own operating data in several different markets to build projected NOI for this property,But we have not done a distressed physical rehab before.I have been given a price for the complex, and a price for the rehab, and a financing package from the bank which has taken the complex from its owner that includes funding for the rehab costs, and good LTV.The complex is operational but is over 40% vacant, and is the classic story of an owner who gradually drained their property, eventually lacking the money to do unit turns.What I would like to do is bring in an independent team to walk the property unit by unit and build out a detailed rehab budget - a team without the conflict of interest of being hired by the bank who owns the property, or being brought in by my existing management firm.Should I hire tradesmen with specific skills (electrical, drywall, plumbing, roofing, etc.) and pay them each a fee to walk the property?

@Michael Blank That is a classic tenant responsibility.

Classic limiting beliefs based on fear and lack of knowledge!

it’s back to the classic logic test.

Its a classic low-in-a-high play.

@Kimberly N.Oh man, the classic BP thread -- Airbnb vs.