Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

How come data driven method did not see that construction costs will only rise?

Hi Pixel, Check out this article about how DSCR loans play into the refinance part of the BRRRR method.

Direct communication with the builder has been the most effective method in my experience.

I rented to ACU students and used the rent by the room method.

It's crucial to consult with a tax professional who understands the nuances of your situation to determine the most appropriate and cost-effective method for your tax filings.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.