Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

This extra year gives property owners more time to schedule inspections and make necessary repairs.Key Points:Applies to multifamily properties with three or more units.Covers balconies, decks, and elevated elements made of wood or similar materials.Inspections must be completed by licensed professionals and repeated every six years.Hazards identified must be repaired promptly.With the extension, now’s the time to plan ahead.

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

Your calculations should include utililies and repairs, legals, snow removal, etc.

They do an inspection, look for potential costs with repairs and produce a final report.

I am NET cash flowing just over 1k (includes maintenance, repairs, cap-ex, vacancies, utilities), which is pretty good considering this is in SoCal.

The difference between the cost for a specific repair / renovation if you have a crew or need to find someone on a first time basis can be significant. 

Or enter "for repairs" and take photographs of expensive new stuff for court...but they may be paying down credit cards.

In 2018, we had a property turn and the net cost to you out of pocket was around $500 (costs to repair minus the security deposit that was returned to you.)