Lastly, I will NEVER do anything to others property that is a HUGE undertaking or liability requiring licensure.

I was able to negotiate a price that made sense even after repairs but was not interested to undertake the project myself.

Fire damaged properties can be a big undertaking, but there can be good profits in it IF the numbers are right and the buyer has done his/her homework to know what they are getting into.

If I bill back water, it goes up to 10.78 COCR.This is where I get concerned, because I don't think I'm being too conservative with my expense estimates, and a 3/1 in this town can usually rent for $1200-$1400, so I went with $1300 to be safe.I've never done a BRRRR before, so I want to see if I'm conservative enough, or too conservative, and if these are the numbers people typically look for or are OK with undertaking a BRRRR.Finally, for rehab, I had a contractor walk through.

When that is the case there is one more requirement and that is that you have to have owned the property at least 5 years before you can sell and take the primary proration.If you're mobile or have a willing significant other what could be a better retirement gig than going to all of your vacation rentals in order and living in them for a few years until you're tired of the view and it's time to redecorate.

We will also renovate units on tenant turnover.On rare occasions we have had to provide a notice of termination to a tenant who did not wish to move into a rehabbed unit (and pay the higher rent).Be certain to study up on your local landlord tenancy law before undertaking such an adventure.  

Their official advise to NC brokers is to not undertake lease options.

What I do have is a deal that fell into my lap (some of you may have seen me post questions about it before) that is a hugeee undertaking.

(Basically, your courage to undertake the project should bring much new value to this home, and I hope that you are greatly blessed for it. 

Hey guys,I'm 25 from Sydney, completed my Bachelor of Exercise Science (Sport and Exercise) and currently undertaking a postgraduate degree, Masters of Strength and Conditioning.