This is why so many people earn large sums of money quickly (lottery, sports, entertainment, etc.) and end up broke.Take Dave Ramsey's Financial Peace University.

I have a hard money lender established to cover 80% of the purchase and 100% of the rehab, so my capital partners would be covering:20% of the purchase priceRange of $30,000-$50,000 cost of capital25% of the renovation budget (to kickstart the project while waiting for reimbursements)$25,000 contingency padAny tips would be great, and if you happen to be interested yourself I can send you more details.

Keep working, saving money, and buy the best asset that your budget allows.

Sell the home to whoever your target tenant will be - modern, sleek, urban, renovated, bright/spacious; then sell the location - not whether they have a bank account or need a 7/11 - just that it is located to 'dining, entertainment, shopping, more.' 

It's been so bad here, that I bought an STR in Indiana with another business partner in 2024 because there are minimal opportunities here - unless you have the ability and budget to extensively source off market properties here.  

I haven’t been able to get an answer if they expect to still be on budget. 

That way if it goes over budget, you can rent it out to make up the money.

I have done many rehabs and had never gone way over budget (to be blunt I may have been cocky as I never thought I would significantly blow a budget).  

I usually provide our budget as well with totals spent. 

I can get 5 times as many deals without increasing my budget.