Note: contractor is not licensed in state of Florida and no permits are acquired.Property is completely fixed up, looks fantastic, everything is to code standard and functions well.Obviously there is going to be a fair bit of headache and costs to ensue regarding not acquiring permits.

While not all investors are created equal and not all of them go back to re analyze their previous figures, even those that do do not have them all combined into any third party oversights, thus, making it difficult to say who is actually more accurate.Like you said, as an investor, I'm accurate in my mind and that is all that matters, at least to me. :)Great discussion guys, hopefully the general population will see this as a great debate between strong minded and experienced individuals and not just a dog fight.

I'm kind of curious if this is just a string of bad luck, a function of being on a busier road, and/or a function of being on a corner lot.

List price is a function of the Realtor and seller and sometimes has nothing to do with what a prospective buyer will pay (nor what an appraiser would value the property at).As a buyer, I always look at all of the numbers to come up with a value and then I offer less than that.

@Wayne Brooks I'm hoping to use a combination of HML for purchase costs and my own money/investor money for rehab.The pre-approval isn't for a broker etc, it is for me to be able to know for sure I can get a purchase funded before I form an LLC with my contractor.

That's any combination of sale price + renovation cost. $700/month in rent, I set aside $300/month for insurance, taxes, maintenance, net out $400/month.

We had more showings this week than the previous 4 months combined.

The combination of money from your HELOC and a hard money lender might indeed allow you to buy the house and rehab it with little out of pocket.

It combines the first 2 steps, but you can make ALOT more since you are now finding the deal, marketing it, finding a buyer, then closing on the property yourself.

Also you can buy a $80,000 policy with a repair cost or a functional modified replacement cost policy just not through American Family.