I definitely ended up passing on this "deal" based on the red flags.

This involves assessing the investor’s financial situation, investment strategy, and the specific projects they wish to undertake.

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

Appreciate if anyone can provide a rundown of costs to expect with this type of transaction?

Appreciate your take on this!

I haven't worked with them personally but I know they can help with this. https://www.nixonoutdoorservices.com/

Purchase price: $215,000 Cash invested: $450,000 This is my first full rehab and purchase of a property which.

You can sell the property and hopefully break even, chalk this up as an educational experience, and try again.Next time, look for property with more wiggle room.

I hope this helps! 

What made you interested in investing in this type of deal?