Herb

Herb,I imagine what he wants is the listing if the lead turns into a short sale.

For example, a General contractor will have a great advantage in terms of estimating repairs and getting good pricing from all trades which might lead to him or her being able to better identify the deal amongst all the duds.I am so grateful I found this forum, I have learned more here in the past month then I have in the previous 6 months.BP rocks :D

Read books like The Closers by Ben Gay, and both books by Herb Cohen.

You need to call your insurance provider.They will tell you a list of what is okay and not.Mine no aggressive breeds of animals is permitted or they will pull the policy on all the buildings.Rottweiler,Pitt Bull,etc.Some insurance policies have weight exclusions but some do not.Another important factor is the BITE HISTORY of the animal.If it's deemed a non-aggressive breed but that little dog has a bad history of biting people then I won't take the animal.I don't like pet deposits.You have to hold it like a security deposit.Instead I like a one time "pet acceptance fee" that is non-refundable.The tenants will say the pet won't do anything etc. but the amount of pet deposits that actually go back to the tenant after they leave I would guess is very,very small.You can also get the tenant to pay a pet fee per month.With the pet fee you need to figure out the cost of the unit for new carpet and damage to the base boards.The cost to be carpet,pad, and labor to install plus baseboard finish and paint.Used to you could put a vapor barrier between the carpet and the pad but it would be really noisy.Now if you spend just a little more you can get a scotch pad made out of rubber that is stain resistant.Then when you go to replace the carpet the pad is still good.Have in your lease that the tenant will be responsible for clipping claws,neutering,getting rabies and other shots to maintain the health and well being of the animal,etc.

I remember her being fixated on payong off the loan and walking away with 100k.

I'd love to do a live in flip, but my wife is very neutral to RE which is better than her being negative, with a 2yr old and her being pregnant, I don't think she could take it.

After doing a few deals though, that notion vaporizes quickly. 

Let her be the first to mention a number.

I think after all of that it boiled down to her being afraid I was getting in over my head.