Once your emergency account has a reasonable amount in it, whatever that means to you, you might want to think about steering that payroll money into the investment savings account from each pay check and leave the emergency account money as is.

However, driving rents higher will likely take a significant amount of cash to upgrade the units.  

The amount of headache, waste of time, no shows, incompetency I had to deal with was unbearable.

The best deal I can find today is one that you buy cash, invest a rehab and when you pull out 75% of your ARV you leave maybe a small amount of money in the deal and you break even (BEFORE DISCOUNTING FOR VACANCY, REPAIRS, etc) Yes that means you leave like 10-25k in the deal and your payment becomes $3000/m and your rent is $3000 a month or slightly less.This is for my local market and for Class B or higher RE. 

So, some quick back of the napkin math for the theoretical turnkey scenario you described above:- Purchase price: $2.5 million- Down payment: $850K- Loan amount: $1.650 million - Gross Scheduled Income: $288K- Operating expense ratio: 35%- NOI: $178K- Debt service at 6.7% interest = $128K annually - Before tax cash flow = $47,1999 - Cash-on-cash Return in Year 1 = 5.55%A $47K / year return on an initial investment of $850K seems pretty modest, no?

You should have documented that in writing, but even a text message from him would likely hold up in court.You post the notice and give them the required amount of time.

So note to all owners of older builders - this is not a bad idea to include when doing a large scale rehab.Total labor cost: $13,000For the amount of labor and the materials he was including this was a really solid price. 

It seems like the initial amount for the 1st year on 10 flips is off. 

Let me do my best to break it down into bite sized chunks.1) Your property tax increase is going to be 2% of the original assessed amount that breaks down to be .024% of the purchase price.

Amarillo isn't a destination per se, but a tremendous amount of people come through here every day on Interstate 40 - about 100K cars per day.