You can take out what's left, but I suggest keeping a reserve for unexpected expenses or vacancies.Hope this helps!

YES, you will miss something and have unexpected expenses, OR you will have a bad tenant experience with damages you are not able to recover from them.

Ensure you have enough reserves for unexpected expenses, and understand the property's projected cash flow to avoid overleveraging. 

This morning the HOA on one of my properties located in Colorado Springs informed the owners of a "Special Meeting Notice" to ratify an amended 2024 HOA budget due to an unexpected high insurance renewal.

This can go towards covering unexpected maintenance costs or damage to the property.

New paint, outlets, lights, and cabinets.

Just make sure you keep enough cash reserves on hand to cover unexpected costs or market downturns.Given the complexity of your plan, especially with the involvement of an LLC and potential rental income, it might be wise to consult with a tax professional.

While we faced some challenges with unexpected repair needs, our proactive approach and strong project management ensured these were addressed without significant delays.

Hi folks,My wife and I have a construction to permanent mortgage loan on land+home where we intended to build.Unfortunately, we found out that unexpected foundation work due to soft soil would likely make the project use triple our contingency reserve before even breaking ground.We are exploring our options on how to transfer our current financial obligations for this construction loan to some other loan offering (as moving forward with the project is now too financially risky).

Lessons learned from the W Knoll St deal include the importance of precise budgeting and managing unexpected challenges during renovations.