As we enter the recession, rents and housing prices tend to get soft, and interest rates would follow and drop shortly after.

My rule of thumb is to have soft commits (this means you have to ask investment level up front) of at least 3x what I think I will need for the deal I will eventually do with them.

I know it is hard to be a though landlord, but being a soft one can be devastating. 

It can be brush and rolled but you get the best performance by spraying.

Some items of consideration (which may sway you the other way):Soft vs. hard pull: Since you are initiating the report, the tenant's credit is dinged.

Bank carries the construction, investor carries the soft costs and carrying costs.

Your very good deal, depending on how much soft costs and hard costs are, in other's eye le it might not be.

The design process can take 4-8 months depending on your feedback and the level of detail required, and permitting can take another 2-6 months (depending on the jurisdiction processes and amount of projects they need to review).Consider all the soft costs- surveys, civil engineers, architect, structural engineers, geotechnical engineers, permitting, etc., and have your architect consult with a MEP engineer after you get the survey back to ensure you have enough electrical service and water/sewer supply for the size of the home.

I was wondering how much of the $75k for rehab was soft costs and how much was the construction costs?

Britta Soto It's illegal to collect SS copies in some cities, the application and dl is enough to pull credit with the ss number. once you pull soft credit, it will give you real names and addresses anyways, so you could judge for yourself. i for one will not give away a copy of my ss to a landlord, i will only give it for loan applications or employment.