Sometimes carpet can get really filthy where a return isn't tightly sealed, because the room air gets sucked through the return's gap near the floor.As an aside, much of the dust that gets newly created is skin being shed off by the occupants.

For a 50% split, the contractor needs to bring more to the table than just "lower costs on rehab".I would negotiate that he pay teh entire rehab costs as "skin in the game" which would keep him from inflating the costs.

On paper, these lower cost units seem so appealing that it makes it difficult to even look at more expensive ones with lower returns.On my side, Im leaning towards starting with an easier to maintain property ( prob more expensive), but as I learn more about REI, gain thicker skin, will hopefully be able to handle lower cost, higher turn-over, less appreciation etc. properties.

Bryan who is your investor that will accept 10-12% & how much are you putting in the skin?

I am located in NY and not looking to "play around" or "dabble without putting skin in the game" with CRE.

This buyer has very little skin in the game

Of course there are always exceptions in lending so take this advice based on my experience and not an actual deal.Perhaps there is a trend where lenders are not allowing seller seconds anymore, but for now, I know there are still some out there.If you are looking to structure the deal so you don't have to put any "skin" in the game, then you're wasting your time if you are seeking conventional financing.

Gotta have thick skin in RE sometimes.

Bottom line, There are multiple ways to skin the cat(so to speak).

I don't think it was an acid, but when a drop fell on my skin it started to burn a little bit.