If the property cash flows, which might be the case in a college town, think student housing, then the deal could be a good one provided the numbers work and you factor in more repairs for college tenants.otoh, wholesaling in an area with few to no sales may be a difficult row to hoe.

And you need to factor in the costs of setting up the LLC, the costs of another tax return/accounting, and the ongoing costs to maintain the LLC.

And that success would have to be measured by well, measurable factors like # of deals completed, amount of income attained, time to complete deals, did the student achieve their personal goals of 'quitting their job in 19 weeks' or replacing their income.

There are SO many factors to consider.

Factored in light plumbing, new kitchen, upstairs bathroom, light sheetrock/spackle/paint, siding, all new flooring, and all the other miscellaneous like fans, lights, doors, etc.I have been blessed to be in a family of carpenters (dad, uncles, brother, grandfather) and a family of realtors (mom, stepdad) so things work out quite nicely.

So 280K I think is a fairly conservative analysis taking all factors into consideration (potential basement sq. ft., highway) As far as the basement sq. ft. my GC and I surveyed the property and the 2100 sq. ft. does not seem to include the basement, if it does it is only a small portion (where the fireplace is).

You basically hired labor and really no warranty to speak of, its just really a matter of his integrity.

I came across a national lender called GMA Factor that offers hard money at 13% interest.

I did a walk through with each to make sure they were quoting similar scope and materials, as well as to get a feel for experience, quality, integrity etc.

If you're an insider, especially from the beginning, you're an integral part of the plan.So, your best position is the guy who everyone sees as the solution guy, who has the money, hires the attorney, calls the shots, etc.I do not have control issues (as long as people do things my way on my timeline, etc.).