Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

Since the repairs were two owners ago, I would think the town may be a little more lenient with you.With the new kitchen and bathroom, were they existing and just got renovated or were they added on?

If you're planning an open house at a vacant listing, know that you've just let the general public know that it is just that - vacant.Better safe than evicting/repairing...

Repair costs in first 1 month of owning (this is renovated house done by seller, not me.

The building tradesmen are busy too, but I just called ABC and got the name of a guy who buys alot of bitumen roofing so as to get a quote on a leaky patio cover, got a guy to bid cement board skirting on a stick house by calling Palm Harbor mfgr home sales center, got a card from a guy working across the street doing drywall repair and put it in my phone.

They should have also gotten approval from you before charging and doing repairs.

I would say that the value he brings is finding the deals, doing an initial diligence, having a local team set up for renovations/repairs/property management as well as knowledge of the neighborhood.

Send her a certified letter (keep a copy for yourself) with your concerns of her not turning on the heat and the problems that can occur with frozen pipes and repair cost in which she will be liable for if she doesn't comply.Is she using space heaters instead?

There were a number of issues, but the big one was a "repair" charge they lied about.

Keep in mind travel time, repairs, and lifestyle to manage the out of state rental.