Especially when the insurance paid for it, contractors don't cut corners.We have probably several water issues every year across the portfolio.

Gave him 10 months free space rent and paid for all his utility hookups. 

The hard work paid off when we sold it on 9/13/2024 for $155,000.

Quote from @Scott Mac: Safety - Inherit a fully paid for SFH, in decent condition, in the neighborhood you live in, and rent it out to long term tenants who you are comfortable with.

Well I guess its not true what you are telling me, we paid you thousands to help us meet the tests for REP for my wife and you did not deliver. 

I paid cash for the property two years ago and want to get some of the equity to purchase another property.

Even first-time flippers should be able to get these terms: Application/Credit Report/Upfront Fee: $0Appraisal Cost: $0Down payment: 10% of purchase price (= 90% LTV)Rehab funding: 100%Interest payments: Paid only on amount drawn (non-Dutch)Prepayment Penalty: $0Reserve Requirement: $0Max Funding: 80% ARVMax Funding 95% LTCClosing time: Measured in days, not weeksI hope this helps. 

I was hoping you'd say that you'd keep making the underlying payment even if you weren't getting paid. 

During escrow converted it to a Roth and paid the taxes.

And lets say you then rehab it only to find out there is bad title and you make a title claim.. if there is no loan on it your only going to get 50k from title insurance and you will lose the 50k you paid for the assignment and any money you put into rehab.