The owner, a family member of one of our buyers, inherited the property through probate, but they weren’t equipped to handle the renovation.The house had been left in disrepair for quite some time, with the previous owner struggling with mental health issues.

@Eric Huntermark There are two big issues to be a real estate investor.

If you do not, I would still love to connect sometime when time permits.

Biggest issue?  

I chose this area for two reasons, the first is that the South Gate Entrance has the least issues.

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

My issue is, it's been almost 3 months and I haven't be able to get good tenant applicants.

The family purchased a lakefront property in a nice area three years ago but then ran into a series of issues, and have abandoned the place because of them.They are hoping the bank allows a short sale (asking for roughly $20,000 under what is owed)Here's what's made them so unhappy:Anytime they used the laundry it was dumping into a dry well, which would back up into the house forcing them to take their laundry to a laundromat instead!!

Traveling to other states isn’t an issue for me. 

The main issue I have is contemplating the baloon payment at the end of the 2nd year and refinancing the remainder with a bank...how can I compute that into calculating the IRR?