We don’t have everything figured out yet, but we have a budget of around 300K to invest.

So it's just personal preference and budget for a host.

Eliminate debt, establish a budget, and save.

From there determining what you have budgeted for your first project.

Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

@Robert Gorra - I've had a similar experience where I've had a really hard time with getting GC's to even give me an estimate, and the few that have have been way overpriced (ie, they want me to put in $20k of cabinets in a budget flip) or have had their prices go up by about 40% and still not give me a firm price when I try to nail down the scope of work.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

This decision increased our budget from $15K to $45K, but it turned out to be a wise investment.The increased budget allowed us to enhance the property's overall value significantly, and we were able to sell it for a much higher price than initially anticipated.

The growth of 1.6 million additional residents will require investments in infrastructure, housing and transportation, the organization added.The numbers were provided by the group’s research team with data from the North Carolina Office of State Budget and Management and the South Carolina Department of Revenue.

Even though the budget of the project will be about 4 times of where I was looking to start with a fix and flip, MF financing looks very encouraging and a silver lining.