The Detailed Engineering Cost Estimate Approach is typically used for the purchase of used property.SURVEY OR LETTER APPROACHOnce a site inspection has been completed and all components of a property have been determined, your specialist will send a survey or letter to the contractors or subcontractors to request they provide the cost of each of the items.

If course maybe there’s a Keller Williams agent that could speak on that particular item for clarification.As a buyer/investor that has done much of our own marketing over the years, there has been a handful of properties that we have wholesale.

Tailor these amounts to the significance of the task; for example:Roofer: $1,000/day (critical to weatherproof the site).Painter or garage door installer: $100–$200/day.Contract Value & Payment Terms:Agreed payment amount (lump sum or itemized costs).Breakdown of payment terms:Deposits.Progress draws.Retainage (if applicable).Scope of Work:Be as detailed as possible.

Taking real time notes on deficiencies allows for clear understanding if the items make their way to a buyer repair addendum.

For example, if you don't specify if a certain item is reoccurring or 1 time, you can't collect it.

-When a tenant moved out, the management company refunded their security deposit but failed to account for damage, such as holes in walls and outlets ripped off the walls, leaving me with repair bills and also tenants moving in without the repairs being done.Stuff like this that is consistent and when I ask questions they are defensive, when I ask for more quotes for high ticket items they are defensive. 

There are state specific items to take into consideration.

If, however, there are any gaps at all in any of the above items, even a gap so small a mouse can squeeze through, that tenant will exploit it and your life just became a 7th Level of Dante's Inferno.....:)

Unless you are itemizing your tax return, the interest on the primary is not tax deductible.

Mine may be different though because I am still responsible for HVAC and many other large items on the property.