Quote from @Conte Cuttino: Property is in C+ area but in a different School district that’s B-If I sale I’ll get 30k profit after 9 months.If I keep as a Long term rental I’ll have to convert the garage into a illegal 1 bed cottage at an additional cost of $35k leaving a total of $107k left in this deal after 70% refi and closing cost.

The second company had a PM contract and due to other reasons we did not continue their services after a couple of months so tax stuff did not arise.

Seller financing: Note for $1,350,000.00  - 7% amortized over 30 years with balloon payment after 7 years, interest only. ( I am trying to get the first year at 6% to stabilize then go to 7% remaining 6 years)Property Condition: Above average.

Bailey, Did you decide on where to go after Stessa?

Rehab costs and ARV (After Repair Value) are key parts of evaluating deals, so it’s great that you’re diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor. 

If Don fails to pay, the bank will certainly go after me, it will at least ruin my credit and will likely take me to court.

Private is an option too, but again, a pay for service on top of the permit fees, etc.   

It feels a little feminine to me, which is fine if you are going after that market segment. 

Thanks for your service, Charles.

You could force the seller to bring it up to code before the sale is complete as one of the contingencies of buying it, let them deal with it.