Because of my brutal impatience we just had an offer accepted for a 5 unit building with 2 store fronts and 3 apartments that all need to be gutted and renovated.

I got pre approval from https://www.loanguys.com and I am having a lawyer look over any additional documentation before I sign, but something in my gut is telling me to avoid them.

I'll have to gut the place when he eventually leaves.Turnover depends on the damage done.

I spend over 150k to 230k in each full gutted property but I put that much in because 1.

I wouldn't want to go much over 50% and my "value" might not be as high as the next guy as I assume the condition of the home is worst case, full gut, electrical plumbing needed etc etc.  

The Fed painted themselves into a corner over the last decade plus, partly because the gutting of the manufacturing sector meant that housing & service had to take up the slack for the loss of jobs (direct and ancillary).

Tell them straight up that there is no basis for their request; houses that has been used as meth labs have specific characteristics that this one never has and cannot be rented until after thousands of dollars in testing ($5k to $50K) and a total gut of the interior is completed. 

All though I fought and went back in fourth and didn't go with my first instinct.

Hi BP community,I'm curious to hear from those who bought and rehabbed a gutted property.

I have a property that I have completely gutted and have been rehabbing.