'dang, it only gets me $75/month and my requirement is $100 so I am going to put another 5% down and then it meets my criteria, woohoo!'

Dang iphone, meant to say "own property", not "own probably!"

Either way, these are pretty dang good... 3% is not bad since many HML's charge up to 5 points (5%) and then they want upwards of 15% on the loan, plujs if you are using a realtor to sell you will pay 6% or more on-top of that... and it sounds like there is an incentive to do bigger rehabs...

@Sam Sendgraff (dang it, I never remember how to get the @ thing to work) Agents name was Tracey Lightfoot with Worley and Associates.We decided not to act on this particular property due to the property not really being exactly what we were looking for. 

My October invoice arrived on Saturday and contains invoices for over $1,200 of repairs, fixes, and replacement (property rents for under $800 / month). 

Usually the terms of our loans are from 6 -12 months with extensions available.Some of the docs we like to have when lending on these deals to make sure everyone is on the same page:- purchase contract (has the terms outlined)- "Detailed" Scope of Work (From Contractor, legible, preferably on their letterhead/invoice)- Comparative Market Analysis (From Realtor or Broker)- Itemized Rehab Estimate (price breakouts for what’s to be done)Hopefully that helps a little!

New to the area so we don’t have any solid connections yet, especially with this dang virus keeping us locked up!

It is an estimate, but it should be pretty dang close to the actual costs unless you find something majorly wrong that could not be determined upon initial inspection.You are going to have to settle it within your self to walk away from deals that don't make sense.

If the owner really has some equity, then he should list the house with an agent and sell the dang thing.

We initially thought their work was part of what we paid the abatement company for, but upon reviewing the abatement invoice, we believe we still need to pay the dry-out company.