If your 5th deal is good, you should be able to find funding outside the banking industry.

Roof would be around $5000.

If loan is in his name he needs to be on title. best to get it paid off and not assume it. why not "buy it" / refinance it to get him off the loan?

The fees and overall costs of these loans needs to be a key factor including what if the project goes over time . . . . you can be underwater in no time.Underestimating repair costs and overestimating ARVs based on Zestimates are the next stumbling block.There's money to be made but make sure numbers all work WITH contingencies defined and overages expected . . . remember, a project will always cost more and take longer than initially thought!

The land is a good property to be developed for single family homes.

My uncle has done 84 percent for the last 14 consecutive years (these numbers can be proven  and have been well documented) .

Since you are in an expensive market, commissions will also be high so you should be able to cover all of your expenses with just 1 deal basically, maybe 2. 

We keep half the house for our use year round but rent the other half out all year long.  2024 tax year will be the first year we depreciate the asset.  

And when the house was exactly like we wanted it to be, we moved out.

We sent a letter of termination because it had to be signed bye 11:59 yesterday.