In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.

I've been investing and hanging out on BP for close to a decade now, so please feel free to reach out with questions.

The insurance company was about to close their claim- without giving out the funds because the insured couldn't find anything to purchase to meet the insurance company's requirements to recieve funds.

And the reality was I only put 20% down plus closing costs.

Horton, closing 90,777 homes and capturing 13.6% of the market, followed by Lennar Corporation with 73,087 closings.

It’s relatively close to Houston and has strong demand due to Texas A&M, events, and business travel, making it a flexible market for STR and mid-term rentals.If you’re open to exploring other high-performing areas, I’d be happy to share insights and data with you.

It is an expense, but they keep it all legal and compliant.

That is a common arrangement as well, that can be done after the loan has closed, too. 

Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details: After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.