Bank is going to want the money for repairs put in escrow holding account so they can make sure the repairs are completed..On a side note: How did the bank find out about the foundation?

When I look at buying a new property I factor a 10% management fee into the budget; partly in case I do want to pay myself or in case if down the road I put in a property manager.Last year I didn't take any money out of my business.

Some days, I even put in 20 hours.

You put in zip code for area to get approximate material and labor cost..This helps me keep things in perspective.

They painted and put in appliances and some flooring in two of the bedrooms and that is it.

It is best to have an attorney draw up a JV agreement to put in writing each party's responsibilities and rights.

On original idea of mine was to to build up capital by flipping so that financing would become less of a problem when I look to start buying and holding rental properties.What I’ve done thus far: I’ve identified what I believe is a good farm area in the Milwaukee suburbs, have looked at over a dozen homes, am working with an experienced Realtor for those areas, created several analytical spreadsheets to help me in analyzing potential deals, put in a few offers, and for the most part have my financing in order.

I've been following your screening guide and it's helped immensely, especially with weeding out people just kicking the tires and wasting your time.I've put in my ad that there is a small application fee and that usually weeds out people that I wouldnt want in there anyway and also communicates that there are only good tenants in the nearby units.

The previous business put in a dropped ceiling and small offices.

From what I have learned they will have to put in on the MLS first.