The ability to see the major issues before you buy is key especially when buying dilapidated early 1900's homes.

Transparency is key- detailed budgets, timelines, and exit strategies will set you apart.That said, moving to a new home mid-project could add a lot of stress.

As you delve deeper into the world of real estate, staying informed and adaptable will be key to achieving your financial goals.

A key aspect that, annoyingly, the "cash-flow crowd" seems to skip past all but religiously. 

Thanks.Hi Courtney,BiggerPockets Pro members get access to all Stessa core (free tier) functionality – plus unlock exclusive access to advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO), all at no additional cost.BiggerPockets Pro members have free access to all Stessa’s featured benefits as well as advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO) – giving Pro members exclusive value not offered to Stessa Free members.Simplify tax time and help maximize deductions Organize financial data and accountingEasily track key property metrics to optimize and boost ROI. 

the key to a BRRRR, whether it's going to be an STR or LTR, is this:distress.you need to find a significantly distressed property, such that you can increase the ARV via the rehab. 

Besides putting together the best SOW using accurate/actual quotes as @Peter Mckernan and @Alan Asriants commented above, another key aspect is tracking expenses (bookkeeping) and monitoring the budget throughout the project. 

I know it may be against my best interest but I cant bring myself to give her cash for keys.

I'd also suggest speaking about Real Estate with friends, family, neighbors, and anyone else in your sphere of influence. 

It can be done but each situation is specific and would be underwritten to see the risk and what the exit strategy is. thats the key with shorter term loans - understanding what the borrowers exit is.