Also, it often helps to connect with a local agent/do extensive due diligence on renovated/new construction properties to see what the property may sell for or appraise for (if doing BRRRR method) as that can impact the price you should pay.

I rented to ACU students and used the rent by the room method.

We want to detail the responsibilities, capital contributions, profit and lost sharing percentages, decision-making process, have dispute resolution methods, and exist strategies.

I've been thinking a lot about Florida and I believe it's a great state for future potential investments such as purchasing and renting out (utilizing the BRRRR Method Of Course).

House hacking is the best tried-and-true method for new investors in my opinion.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

., set salary, percentage of profits, or other methods)?

If you offer more $ for the property than the all cash offers AND you appear to the seller to be highly qualified in the method you are using for sourcing the payment, at some point your offer will be more appealing than the all cash offers.I don't understand why you would consider a 1031 for another property in two years. 

I wasn’t trying to be long winded, with too much detail, in my initial post but I actually did this method on a fix and flip.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.