In hot markets, some wholesalers and investors use 80-85% of ARV (minus repairs) instead of the typical 70% to stay competitive.A few tips:1.

During demo, if they open up a wall and find a leak that requires a change order. the change order should be specific to that repair and have a cost associated with it. 6.

@Chris Seveney I'm concerned about having $$$ for repairs when needed.

Working with Real Estate ProfessionalsLocal Real Estate Agent: Choose an agent experienced in student housing.Property Management Services: Consider hiring a property manager if you’re not local.Inspection and Appraisal: Conduct thorough due diligence to avoid costly repairs.6.

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait.  

I’d recommend something like the tenant is responsible for the first $500, $750, or whatever in repairs for each occurrence.

I am sorry that the storm that passed through just prior to your stay required emergency roof repairs. 

The reason the answer is framed this way is because when you take a HELOC out to make repairs on your personal residence, you are allowed to tax the interest deduction on your Schedule A of your 1040 income tax return.

The item that I hate shopping for the most is dressers, and nothing else comes remotely close. 

I put $6000 into repairs, mostly paint, new light fixtures, new appliances, painting cabinets and fix a small leak coming from the roof.